This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Market Hustle: Stock Futures Slip Ahead of Yellen Testimony

NEW YORK (TheStreet) -- U.S. stock futures were trading lower Monday after rising the previous week, as investors awaited Federal Reserve Chair Janet Yellen's economic and monetary policy testimony before Congress on Tuesday and Thursday.

  • S&P 500 futures were down 4.25 points, or 3.12 points below fair value, to 1,789.25. Dow Jones Industrial Average futures were off 29 points, or 28.08 points below fair value, to 15,710. Nasdaq futures were down 2.7 points, or2.36 points below fair value, to 3,555.3.

  • There were no major U.S. economic releases expected for Monday.

  • Events expected this week include Yellen's first semi-annual monetary policy testimony before the House Financial Services Committee in Washington. Yellen is to deliver the second part of the semi-annual monetary policy testimony before the Senate Banking Committee on Thursday.

    • "The soft payrolls report on Friday arguably raises the stakes," Singapore-based UBS strategist Gareth Berry said in a note. "Although the consensus still expects a steady reduction in the monthly pace of QE3 asset as the year progresses, if anything investors now expect Yellen to place an even greater focus on the policy rate remaining lower for longer."

  • Markets showed resilience Friday, recouping all losses from a broad selloff earlier in the week. U.S. stocks jumped as investors looked beyond lower-than-expected headline employment numbers for January, and found that not only did some of the largest sectors of the labor force gain ground but more people went looking for work last month. The S&P 500 gained 0.81% for the week.

  • Hasbro (HAS - Get Report) was off 2.18% to $49 after the toy company missed fourth-quarter expectations by 10 cents, posting earnings of $1.12 a share.

  • Green Mountain Coffee Roasters (GMCR - Get Report) was up 2.09% to $110 and Krispy Kreme Doughnuts (KKD - Get Report) was higher by 0.52% to $17.50 after the companies reached a multiyear agreement to bring Krispy Kreme's signature coffee to K-Cup packs for the Keurig brewing system.

-- Written by Andrea Tse in New York

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
HAS $63.79 0.00%
GMCR $112.65 0.00%
KKD $19.74 0.00%
AAPL $124.25 0.00%
FB $81.66 0.00%


DOW 17,698.18 -77.94 -0.44%
S&P 500 2,059.69 -8.20 -0.40%
NASDAQ 4,880.2280 -20.6570 -0.42%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs