NewsWare’s Trade Talk: Friday, July 15

S&P Futures are pointing towards a higher opening this morning as the market prepares for a flood of economic releases and bank earnings. Concerns about the Fed raising rates a full percentage point have dampened as Fed officials that spoke yesterday remained focused on a 75 basis point increase which is what the market has been expecting. Elliott Mgmt is said to have taken a position in Pinterest. Bank earnings are coming in lower than expected. Oil is trading 2% higher an European exchanges are trading higher this morning.