NewsWare's Trade Talk: Friday, May 31

S&P Futures are weakening this morning as markets await a key economic report due out before the opening bell. This morning's PCE report will focus on the annual core data point.  The core PCE deflator likely moderated in April to the slowest monthly pace yet this year, potentially providing some relief after a year of sticky inflation. Tech stocks are weak this morning, healthcare stocks are rising. In Europe, markets are starting to turn higher as this morning's. Oil prices are mixed to lower, weakening economic data out of China, this morning PCE report and anticipation of this weekend's OPEC are all important factors today.