NewsWare’s Trade Talk: Friday, April 29

S&P Futures are moving lower this morning. The move lower is being led by declines in the technology sector after Amazon.com posted its first quarterly loss in seven years. This morning, one hour before the market opens, we have the PCI report being released. The Personal Income and Outlays report is widely followed by the Fed as an inflation measure and next week we have an FOMC meeting where they will be discussing a rate increase and balance sheet reduction. Oil is higher as Germany is now on board with banning Russian oil in the EU, all EU countries need to approve this measure for it to be ratified. Stocks in Asia had a strong day as China appears close to releasing a stimulus program.