US STOCKS-Wall St set to open flat ahead of Yellen testimony

miércoles 28 de septiembre de 2016 09:01 GYT
 

* Yellen appears before Congressional committee at 10:00 a.m. ET

* Tempur Sealy drops on disappointing forecast

* Futures up: Dow 12 pts, S&P 0.5 pts, Nasdaq 4 pts (Adds details, comments, updates prices)

By Yashaswini Swamynathan

Sept 28 (Reuters) - Wall Street was set to open 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 suggested that a move could come later this year.

Five Fed officials from various states are also scheduled to speak at separate events, including voting members Esther George, James Bullard and Loretta Mester.

Stocks, which have rallied in the absence of an interest rate hike this year, are highly sensitive to Fed comments due to a lack of consensus on the timing of future increases.

"I don't expect a major shift in Fed rhetoric, which is to make hawkish comments, but follow with dovish action," said Adam Sarhan, chief executive at Sarhan Capital.   Continuación...