US STOCKS-Wall St to dip at open with focus on Yellen speech

viernes 27 de marzo de 2015 09:13 GYT

* Dow Chemical to spin off unit, merge it with Olin

* Q4 GDP at 2.2 pct, but corporate profits fall

* Fed Chair Janet Yellen to speak shortly before the closing bell

* Futures off: Dow 40 pts, S&P 3 pts, Nasdaq 8 pts (Updates prices, adds GDP data, comment)

By Rodrigo Campos

NEW YORK, March 27 (Reuters) - U.S. stocks were set to dip at the open on Friday, setting indexes up for a full week of daily declines, as the dollar index added to the previous session's rebound ahead of a speech by Federal Reserve Chair Janet Yellen.

Yellen will speak on monetary policy at 3:45 p.m. EDT (1945 GMT) in San Francisco, and traders will keep an ear out for clues on the timing of the start of the tightening path at the Fed.

Equities have traded in lockstep with the U.S. currency of late ahead of the start of earnings season, as traders gauge how much the greenback's strength will hurt corporations' bottom lines.

"Yellen will be the big news of the day, certainly, so I don't expect a lot of movement before that," said Peter Jankovskis, co-chief investment officer at OakBrook Investments LLC in Lisle, Illinois.   Continuación...