NewsWare’s Trade Talk: Tuesday, May 17

S&P Futures are showing strong gains in the pre-market. The end of the lockdowns in China, positive earnings results from Home Depot and expectations of a positive Retail Sales reading are helping to drive the market higher. The sentiment is positive this morning as markets appear to have overpriced the risk of a recession. This morning we also have the April report on Industrial Production and Capacity Utilization. Later today, Fed Chairman Jerome Powell will be speaking on the economy and taking questions from reports. Walmart missed earnings expectations due to higher costs.