NewsWare’s Trade Talk: Friday, May 27

S&P Futures are trading modestly higher this morning, due to the recent positive earnings results from various retailers. This morning, the market is preparing for an update on the Federal Reserve's favorite inflation indicator. The core personal consumption expenditure index deflator is in the crosshairs this morning. A weaker number in today's announcement would give a further reason to expect that the Fed's next rate decision will be to pause, rather than increase. Markets are closed on Monday for the Memorial day holiday.