NewsWare's Trade Talk: Wednesday, May 8

S&P Futures are flat to higher with the markets looking for a catalyst to create volatility this morning. Earnings announcements continue to be a key factor behind the market momentum with positive earnings reports from ANET, WYNN &RDDT. Next week Walmart and Home Depot are scheduled to release. President Biden is in WIS to announce a $3B MSFT datacenter while his administration has revoked the export licenses that allow Intel and Qualcomm to supply Huawei with semiconductors. In Europe, markets are higher with gains in industrials, media and healthcare. Oil prices have turned lower this morning, API data showed a build in inventories.