NewsWare's Trade Talk: Wednesday, October 2

NewsWare‘s Trade Talk

S&P Futures are flat to lower this morning with the dominant topic being Iran's missel strike on Israel. The strike was largely ineffective, and Israel has vowed to respond. A strong response will likely cause markets to weaken. The ADP employment report is due out this morning, last month's report was underwhelming. NKE release an EPS beat yesterday after the close, but the outlook remains weak. Luxury, casinos and oil stocks are positive this morning. In Europe, markets are attempting to close out the day higher, with all eyes on developments in the Middle East. Oil prices are surging this morning as volatility is moving higher. Markets are also waiting on comments from today's OPEC meeting and the official stockpiles report.