NewsWare's Trade Talk: Wednesday, July 31

S&P Futures are higher in the pre-market as markets await todays statement from the Fed. HUM, BWA, DD, ANET, AMD & MSFT all delivered beats. After the bell today we hear from META, QCOM, ARM, LRCX & ETSY. Microsoft's overall sales and profit growth beat expectations, but revenue in its cloud-computing business narrowly missed. Israel is thought to be behind a missile strike inside Iran that killed a Hamas leader overnight, which is causing oil price to move higher. Japan, South Korea and the Netherlands are said to be excluded from the list of countries being blacklisted for chip sales, final rules to be published next month. In Europe, markets are higher due to positive corporate earnings updates and indications that a stimulus plan from China will soon be released.