Futures were pretty close to dead even, with the markets awaiting a crucial speech from
Federal Reserve chair
. He will deliver his
Humphrey-Hawkins testimony to the
Senate Banking Committee
, giving Wall Street and Washington an inside look into the Fed's opinion on the American economy.
S&P 500 futures on
, an electronic exchange specializing in currency and index options, lately were off 1 to 1332.5. That's about 3 points below fair value.
futures were up 3.5 to 2305.00, about 32 points above fair value as calculated by
Around the midpoint of the trading day, European markets were mixed and quite close to their opening numbers. Expect more of a decisive move when American markets open. London's
dropped 6 to 6235.4 as telecommunications stocks plummeted and big-name oil company
slipped before it releases earnings.
rose 18.5 to 6583.4 while Paris
rose 8.4 to 5767.9.
In Asia, the troubled Japanese stock market continued on its wayward path. The benchmark
dropped 148.1 to 13,274.7, as investors focused on a glut in supplies instead of the possibility that the
Bank of Japan
would further cut interest rates. As has been the case lately, the Hong Kong
was a contrarian, gaining 149.6 to 15,842.72.
global indices for more on markets around the world.
For Monday's postclose trading, see
The Night Watch.