NewsWare’s Trade Talk: Wednesday, June 22

S&P Futures are significantly lower this morning as the market's sentiment turns bearish due to rising inflation & interest rates. Fed Chairman Powell is scheduled to speak today in front of the Senate Committee on Banking, Housing, and Urban Affairs. His comments will be closely watched and he is expected to continue with his hawkish views. We also have a number of speeches today from other Fed members which will likely support Powell in his quest to raise interest rates at all costs in an effort to curb inflation. President Biden is expected today to push lawmakers for a 3 month tax holiday of federal taxes on gasoline. He has also invited the CEOs of the major oil companies to the White House for a discussion on ways to lower oil prices.