Wall Street Preview: Federal Reserve Chair Speaks to the House
U.S. stock futures were higher and European shares rose as investors awaited hints on the direction of monetary policy from Janet Yellen, chair of the Federal Reserve. Yellen's prepared statement for her testimony to the House Financial Services Committee will be released at 8:30 a.m. ET. Yellen's appearance before the House Financial Services Committee begins at 10 a.m. Wall Street will be listening for any insight Yellen offers on when inflation may reach the Fed's 2% target and whether the unwinding of the central banks' $4.5 trillion balance sheet will interfere with the pace of interest rate hikes.
The economic calendar also includes Oil Inventories for the week ended July 7, and the Fed's "Beige Book" at 2 p.m.
Earnings are expected Wednesday from Fastenal Co. (FAST) - Get Report
Watch More with TheStreet:
