NewsWare’s Trade Talk: Thursday, July 27

S&P Futures are displacing strong gains this morning as yesterday rate hike from the Fed may be its last. Fed Chair Powell indicated that their Fed staff no longer is predicting a recession in 2023. Looking ahead today, there are a host of key economic reports scheduled for release in the pre market (GDP, Durable Goods &Jobless Claims). Meta is up over 8% this morning on strong earnings. In Europe, the major indexes are highly positive due to corporate earnings results and ahead of today's ECB decision on interest rates. Oil prices are positive by more than 1% this morning as rate hikes tend to lift oil prices.