US Stock Futures Edge Lower; Yellen In Focus

US stock futures traded lower in early pre-market trade. Federal Reserve Chairwoman Janet Yellen is scheduled to speak on labor market in Jackson Hole, Wyoming at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average tumbled 15 points to 17,001.00, while the Standard & Poor's 500 index futures fell 3 points to 1,986.60. Futures for the Nasdaq 100 index dropped 4.50 point to 4,043.00.

European markets were lower today, with the Spanish Ibex Index dropping 0.53%, STOXX Europe 600 Index falling 0.38%. German DAX 30 index dipped 0.75%, French CAC 40 Index fell 0.94% and London's FTSE 100 Index dropped 0.21%. In Asian markets, Japan's Nikkei Stock Average fell 0.30%, Hong Kong's Hang Seng Index rose 0.47%, China's Shanghai Composite Index surged 0.46% and India's Sensex gained 0.23%.

Analysts at Janney Capital upgraded The Gap

from Neutral to Buy. The target price for Gap has been raised from $43 to $51. Gap's shares gained 0.16% to close at $43.18 yesterday.