Futures are doing nothing ahead of Yellen's big speech
Thomson Reuters
At 8:08 a.m. ET, futures on the Dow, S&P 500 and Nasdaq were all down by less than 0.1%. It was also quiet overnight, as global stocks slipped to a two-week low.
Yellen's speech titled "The Federal Reserve's monetary policy toolkit" could be a nerdy discussion of just that.
It's slated to begin from the Jackson Hole Symposium at 10 a.m. ET, and comes at a time when economists everywhere are discussing the limitations of central bank intervention and debating the scope of fiscal policy.
But traders are hoping Yellen would also use this speech to hint at the Fed's readiness to raise interest rates before the end of this year.
The odds that the Fed would move this year for the second time in a decade have climbed steadily during the past few days, and are at the highest level since before the UK voted to leave the European Union.
In other markets, the dollar edged down, with its index 0.15% lower to 94.63. Gold was green, up 0.43%, or $5.55 an ounce, to $1,330.25. Treasuries were slightly higher, with the benchmark 10-year yield down by less than one basis point to 1.57%.
The second estimate of second-quarter GDP headlines the economic-data calendar. Consumer sentiment from the University of Michigan, and Baker Hughes' oil rig count, will also be released later on Friday.
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- 2 states where home prices are falling because there are too many houses and not enough buyers
- "To sit and talk in the box...!" Kohli's message to critics as RCB wrecks GT in IPL Match 45
- 7 Nutritious and flavourful tiffin ideas to pack for school
- India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030
- Top 5 places to visit near Rishikesh
- Indian economy remains in bright spot: Ministry of Finance