US STOCKS-Futures little changed ahead of Yellen's speech

miércoles 2 de diciembre de 2015 08:18 GYT
 

* Futures up: Dow 13 pts, S&P 2 pts, Nasdaq 6 pts

By Tanya Agrawal

Dec 2 (Reuters) - U.S. stock index futures were little changed on Wednesday as investors held off on taking big positions ahead of Federal Reserve Chair Janet Yellen's speech.

* All eyes will be on Yellen as the Fed is widely expected to pull the trigger on its first hike in interest rates in almost a decade on Dec. 16.

* Yellen will speak before the Economic Club of Washington at 12:25 p.m. ET (1625 GMT).

* She also testifies on the economic outlook before a joint committee of Congress on Thursday.

* The economic data has not been playing ball with the Fed's policy plans in recent weeks and has been mixed at best. While construction spending has risen, there has been a sharp downturn in the manufacturing surveys along with weaker retail sales.

* However, job growth has been strong and Friday's employment report is expected to show that the U.S. economy added 200,000 jobs in November.

* The CME Group's analysis of 30-day Fed funds futures prices shows investors place the probability of an interest rate hike this month at 75 percent.   Continuación...