NewsWare’s Trade Talk: Thursday, May 30

S&P Futures are moving lower this morning. Salesforce.com is off by 16% this morning which is weighing on Dow futures. CRM released modestly disappointing earnings last night. The key economic report for today is the Q1 revision to the GDP data. Banks are trading higher this morning while semiconductor stocks are falling. After the bell today there are earnings reports due out from COST, DELL, MRVL, ZS, NTAP & ULTA. In Europe, markets are showing modest gains and oil prices are weakening due to last night API oil stockpiles estimates indicating that inventories fell by 6.49million barrels last week.