Yellen in spotlight on Capitol Hill

By David Russell,

Shutterstock photo

Janet Yellen's appearance on Capitol Hill is the main item on today's agenda.

Scheduled for 10 a.m. ET, it will be her first congressional appearance since since she ascended to chair of the Federal Reserve earlier this month. Traders will mostly be listening for clues about plans to alter or maintain the pace of monetary stimulus.

Wholesale inventories, a relatively minor report, is also released at 10 a.m. ET. Economists expect a gain of 0.6 percent for December, up from 0.5 percent in the previous month.

There are also several earnings reports on tap. Big names before the opening bell include CVS Caremark, Ingersoll Rand, Mosaic, Marsh & McLennan, and Regeneron. Western Union, TripAdvisor, DaVita, and Fossil follow in the afternoon.

Deere and Owens Corning are among the notable companies Wednesday morning, but the most important releases follow after the closing bell: Technology heavyweights Cisco Systems, Applied Materials, Nvidia, NetApp, and SunPower. CBS, Mondelez Foods, Whole Foods Market, and MetLife also report tomorrow afternoon. The only economic events in the session are European industrial production and weekly mortgage applications.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Options
Referenced Stocks: SPX

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