NewsWare's Trade Talk: Tuesday, April 23

S&P Futures are indicating a positive opening this morning with corporate earnings in focus as 40% of the S&P 500 companies are schedule to report this week. GM, NVS & UPS have already delivered positive reports this morning and are all showing gains in the pre market. Apple's iPhone sales in China are said to be off by 19% in Q1. Purchasing Managers data on tap this morning and expected to show gains vrs the March figures. In Europe markets are higher due to positive earnings reports and the EuroZone PMI reading. Oil prices have just changed direction and are now trading lower. This afternoon's stockpiles report will likely be a key catalyst for oil.