Markets

Futures Mixed as Wall Street Braces For Fed Chair Yellen

Dow futures have crossed into positive territory, leaving the other benchmark averages in the red as Wall Street braces for Fed Chair Janet Yellen's speech in Chicago this afternoon. Investors will be looking to see whether or not Yellen joins the ranks of her other dovish colleagues who have recently said the case for a March rate hike has become "more compelling."

Besides Yellen, other members of the Fed appearing throughout the day include Richmond Fed President Jeffery Lacker, Chicago Fed President Charles Evans and Fed Vice Chairman Stanley Fischer at the Monetary Policy Forum in NYC, and Fed Governor Jerome Powell speaking at Yale University

Economic data includes the purchasing manager's and Institute for Supply Management services sector indices, both of which are expected to stay unchanged from prior levels.

Oil futures are higher for the first time in four days in respect of a slight pull-back in the dollar, but gold continues to drift lower, now trading near its eleven-day low of $1.225.70.

-Dow Jones Industrial up 0.04%

-S&P 500 futures down 0.17%

-Nasdaq 100 futures down 0.19%

SENTIMENT

Nikkei down 0.49%

Hang Seng down 0.74%

Shanghai Composite down 0.34%

FTSE-100 down 0.16%

DAX-30 down 0.19%

PRE-MARKET SECTOR WATCH

(-) Large cap tech: Lower

(+/-) Chip stocks: Mixed

(-) Software stocks: Lower

(-) Hardware stocks: Lower

(+/-) Internet stocks: Mixed

(+) Oil stocks: Higher

(-) Biotech stocks: Lower

(+) Drug stocks: Higher

(+) Financial stocks: Higher

(+) Retail stocks: Higher

(+/-) Industrial stocks: Mixed

(+/-) Airlines: Mixed

(+/-) Autos: Flat

UPSIDE MOVERS:

(+) BIOS (+17.81%) Reported smaller-than-expected Q4 loss, revenue tops estimates, 2017 guidance misses consensus

(+) HABT (+13.04%) Q4 EPS up two cents from year ago, beating expectations, revenue tops estimates

(+) LIFE (+7.04%) European Medicines Agency grants orphan drug designation for resolaris

(+) BIG (+4.92%) Reported better-than-expected EPS, issued above consensus EPS guidance, approved $150 million share buyback and raised dividend

DOWNSIDE MOVERS:

(-) SCYX (-20.80%) FDA issues clinical hold on new studies of SCYNEXIS' IV formulation of SCY-078

(-) IMMR (-19.55%) Reported wider-than-expected Q4 loss, below consensus revenue

(-) NTNX (-17.38%) Issued mixed to downside guidance

(-) COST (-4.14%) Missed revenue expectations

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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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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