NewsWare’s Trade Talk: Friday, July 28

S&P Futures are positive this morning indicating a higher opening today. Intel delivered a positive earnings report. This morning PCE report on inflation will be the key to the market's direction today. Banks appear to be halting stock buybacks again as new capital rules loom. Japan makes a move to allow for higher interest rates. In Europe, the major indexes are mixed with corporate earnings results in focus. Oil prices are slightly lower but likely to close higher on the week for the fifth week in a row.