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US Futures Continue Higher After Yellen Suggests Caution on Rate Increase

U.S. equities futures pointed to a higher open Wednesday, building on gains made Tuesday after Federal Reserve Chair Janet Yellen called for caution in raising rates further in the current economic environment.

Yellen's remarks poured some cold water on other Fed officials' recent statements that have implied that monetary policy makers might be inclined to raise rates again as soon as April. Alternate Federal Open Market Committee member, Chicago Fed Charles Evans, will speak in New York at 1 p.m. E.T.

At: 8:15 a.m. the ADP employment report is expected to show the private sector added 203,000 jobs in March, up from 214,000 in February and in the consensus range between 165,000 and 225,000, according to data compiled by Econoday.

At 10:30 a.m., the Energy Information Administration's petroleum status report is expected to show a 9.4 million increase in crude oil inventories in the week to March 25.

In equities, Acadia Pharmaceuticals ( ACAD ) surged nearly 25% in recent pre-market trade after saying the U.S. Food and Drug Administration's Psychopharmacologic Drugs Advisory Committee voted 12 to 2 that the

benefits of NUPLAZID (pimavanserin) for the treatment of psychosis associated with Parkinson's disease outweigh the risks of treatment.

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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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