NewsWare’s Trade Talk: Friday, August 29

S&P Futures are displaying weakness this morning as markets react to the latest round of earnings. This morning, markets are awaiting a key inflation report as the PCE data is due out before the bell. The Trump Administration is looking to expand the tariffs on steel and aluminum products. Fed Gov Cook is schedule to have a hearing this morning on her employment at the Fed. Fed Gov Waller and continue to push for lower rates due to the expectations of a weakening labor market. BABA announced the development of a new AI chip that is more versatile than its older chips. Seeing strong gains in BABA, AFRM, ADSK, ESTC & ULTA after earnings releases. Monday is a holiday, on Tuesday morning, ASO & SIG are expected to release quarterly updates.