This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Market Hustle: Stock Futures Slip Ahead of Yellen Testimony

Stocks in this article: ^DJI ^GSPC ^IXIC HAS GMCR KKD

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) 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) was up 2.09% to $110 and Krispy Kreme Doughnuts (KKD) 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

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs