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

miércoles 28 de septiembre de 2016 07:30 GYT
 

* Futures: Dow down 0.25 pts, S&P up 1.75 pts, Nasdaq up 11 pts

By Yashaswini Swamynathan

Sept 28 (Reuters) - U.S. stock index futures were little changed on Wednesday as investors awaited Federal Reserve Chair Janet Yellen's testimony before a Congressional Committee.

* Yellen's testimony will be watched for clues on the timing of the next interest rate hike, a week after the central bank held rates steady but said a move could come later this year.

* Fed presidents and voting members Esther George, James Bullard and Loretta Mester are among the five officials scheduled to speak at separate events through the day.

* Stocks, which have rallied in the absence of an interest rate hike this year, are highly sensitive to Fed comments as a growing number of officials have called for higher rates.

* The dollar index rose for the second straight day on Wednesday, ahead of Yellen's testimony. Oil prices rose slightly as data showed a draw in U.S. crude stocks, although worries over a lack of agreement among producers to curb output capped gains.

* While the Fed has two meetings left on its calendar for the year, economists say it is mostly likely to pull the trigger on rates in December as the November meeting comes days ahead of the U.S. presidential election.

* Data on tap for Wednesday includes a report on durable goods, which likely fell 1.4 percent last month after rising 4.4 percent in July. The report is due at 8:30 a.m. ET.   Continuación...