A Peek Into The Markets: U.S. Stock Futures Edge Lower Ahead Of Yellen Speech

Pre-open movers

U.S. stock futures traded slightly lower in early pre-market trade. US Services Purchasing Managers' Index for February is schedule for release at 9:45 a.m. ET, while the ISM non-manufacturing index for February will be released at 10:00 a.m. ET. Chicago Federal Reserve Bank President Charles Evans and Richmond Federal Reserve Bank President Jeffrey Lacker will speak in New York City at 10:15 a.m. ET, while Federal Reserve Gov. Jerome Powell is set to speak at Yale University at 12:15 p.m. ET. Federal Reserve Chair Janet Yellen will speak at the Executives' Club of Chicago at 1:00 p.m. ET, while Vice Chairman Stanley Fischer is set to speak in New York City at 1:00 p.m. ET.

Futures for the Dow Jones Industrial Average dropped 1 point to 21,005.00, while the Standard & Poor’s 500 index futures fell 3.25 points to 2,379.00. Futures for the Nasdaq 100 index slipped 7.75 points to 5,357.25.

Oil prices traded higher as Brent crude futures gained 0.36 percent to trade at $55.28 per barrel, while US WTI crude futures rose 0.27 percent to trade at $52.75 a barrel. The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index rising 0.69 percent, STOXX Europe 600 Index falling 0.17 percent and German DAX 30 index dropping 0.14 percent. The UK's FTSE index was trading lower by 0.24 percent, while French CAC 40 Index climbed 0.65 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.49 percent, Hong Kong’s Hang Seng Index declined 0.74 percent, China’s Shanghai Composite Index fell 0.36 percent and India’s BSE Sensex fell 0.03 percent.

Broker Recommendation

Analysts at Citigroup upgraded Expedia Inc EXPE from Sell to Neutral.

Expedia shares rose 0.91 percent to $120.00 in pre-market trading.

Breaking news

• Big Lots, Inc. BIG reported upbeat earnings for its fourth quarter on Friday.



• Marvell Technology Group Ltd. MRVL reported upbeat results for its fourth quarter and issued a strong outlook for the current quarter.



• Costco Wholesale Corp COST reported weaker-than-expected earnings and comparable store sales for its second quarter.



• Wingstop Inc WING posted better-than-expected earnings for its fourth quarter, but sales missed expectations.