NewsWare’s Trade Talk: Tuesday, May 13

S&P Futures are displaying some weakness this morning. The recent leg higher is due to the reduction in tariffs between the U.S. & China and this morning markets are seeing some profit taking. The CPI report for April is due out this morning before the opening bell. The latest draft of the budget bill is calling for $715b cuts in Medicaid and the Affordable Care Act over 10 years. President Trump is in the Middle East today on a deal making trip. He is expected to announce dozens of business agreement ranging from weapon sales to deals on AI, energy and space. China removed its ban on Boeing airplane deliveries. COIN is being added to the S&P 500 and AMZN announced a delivery deal with FDX. Few important earnings announcements schedule for today. JD release a beat, yet the stock is trading lower. Cisco and CoreWeave are schedule to report on Wednesday.