NewsWare’s Trade Talk: Tuesday, June 14

S&P Futures are trading higher this morning. The FOMC starts its two-day meeting and will be announcing a change to monetary policy tomorrow afternoon. The major banks now believe that a more robust response from the Fed on interest rates is likely. While no Fed official has mentioned a rate hike above 50 basis points in the last month, the major banks are now expecting a 0.75% hike in interest rates to be announced tomorrow afternoon as a result of Friday's hot CPI print. Oracle delivered a strong earnings beat last night. Bank stocks are higher in Europe this morning and oil prices continue to move higher on supply concerns.