NewsWare’s Trade Talk: Friday, May 10

S&P Futures are extending their gains this morning. The cooling job market is boosting markets expectations on rate cuts. Markets will be paying attention to the elevated number of Fed speakers today for commentary on inflation and the timing of rate cuts. The Biden administration is said to be looking to roll out new tariffs on China's EV sector. Key inflation data is due out next week including the PPI on Tuesday and the CPI on Wednesday. In Europe, markets are higher with positive sentiment on a June rate cut and GDP growth data in the U.K. Oil prices are positive this morning as markets are watching demand levels from the U.S. and China.