March 29, 2017 / 11:30 AM / a year ago

US STOCKS-Futures flat as investors await Fed speakers

By Yashaswini Swamynathan

March 29 (Reuters) - U.S. stock index futures were flat on Wednesday, after an impressive recovery on Wall Street helped the Dow Jones Industrial Average break its eight-day losing streak.

* Federal Reserve officials, including Chicago Fed President Charles Evans and his Boston counterpart, Eric Rosengren are scheduled to speak at separate events and may comment on the central bank’s interest rate outlook.

* While Fed Chair Janet Yellen did not comment on monetary policy at a conference on Tuesday, Vice Chairman Stanley Fischer hinted on CNBC that the Fed may raise rates twice this year. Other Fed members signaled only a gradual pace of tightening policy.

* Investors are closely watching developments in Europe as Britain prepares to formally initiate a process to exit from the European Union.

* Strong consumer data on Tuesday underscored the health of the U.S. economy despite doubts about President Donald Trump’s ability to enact his agenda after the collapse of a bill to reform healthcare.

* With an August target date set for a highly anticipated tax reform bill and no major economic data on tap, markets are likely to trade in a tight range on Wednesday.

* Stocks moving premarket included Vertex Pharmaceuticals that jumped nearly 18 percent to $105.50 after its cystic fibrosis treatment succeeded in a late-stage trial.

* Luxury furniture retailer RH soared 16 percent to $44 following a quarterly profit that beat analysts’ expectations.

* Chipmaker Exar Corp was up 5.5 percent at $11.20 following a deal to be bought by Maxlinear for about $700 million.

Futures snapshot at 6:57 a.m. ET:

* Dow e-minis were down 12 points, or 0.06 percent, with 15,596 contracts changing hands.

* S&P 500 e-minis were down 0.5 points, or 0.02 percent, with 94,336 contracts traded.

* Nasdaq 100 e-minis were up 2.25 points, or 0.04 percent, on volume of 16,145 contracts. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Anil D’Silva)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below