NewsWare’s Trade Talk: Friday, July 1

S&P Futures remain weak and are trending lower this morning with risks of additional selling pressure. Market headlines continue to focus on inflation and recession which is enhancing a bearish sentiment this morning. European stocks are displaying minor gains and oil is ticking higher. Oil prices are up over 2 percent this morning trading as traders see limited prospects for additional production. The key economic report for today is the ISM Manufacturing index at 10:00 am ET.