Stock futures fall with Yellen, data, Ukraine in f
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Stock futures fall with Yellen, data, Ukraine in focus
MADRID (MarketWatch) — U.S. stocks futures pointed to a lower open for Wall Street on Thursday, ahead of data expected to show a slowdown in durable-goods orders and testimony from Federal Reserve Chairwoman Janet Yellen.
Also casting a shadow across sentiment were an escalation in tensions in Ukraine and downbeat data out of Europe.
Building on earlier losses, futures for the Dow Jones Industrial Average (CBE
JH4) fell 70 points, or 0.4%, to 16,109, while those for the S&P 500 index (GLC:SPH4) eased 8.3 points to 1,833.60. Futures for the Nasdaq-100 index (GLC:NDH4) also gave up a grip on gains, down 11 points, or 0.3%, to 3,662.75.
A slowdown in orders over the past few months by American manufacturers is likely to be reflected in the durable-goods orders reading for January, due at 8:30 a.m. Eastern Time. Economists polled by MarketWatch expect orders to drop 2.5%, after a 4.2% fall in December. Stripping out volatile autos and airlines, orders are expected to be flat or fall slightly. Spotlight on the economy: Durable goods not so durable?
Also at 8:30 a.m. Eastern Time, weekly jobless claims are due for release, and they’re forecast to hold steady at around 335,000.
Markets will be keeping a close eye on Capitol Hill, with the Fed’s Yellen due to talk to the Senate Banking Committee about the economic outlook and monetary policy. Her appearance, delayed from earlier this month by a winter storm, is set for 10 a.m. Eastern Time. http://www.marketwatch.com/story/stock-future...2014-02-27
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