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Wall Street set for mixed open ahead of Yellen's remarks

U.S. stock index futures pointed to a mixed open on Friday as traders eyed comments from Federal Reserve Chair Janet Yellen and a number of other Fed speakers.

Yellen is set to speak on the economic outlook at the Executives Club of Chicago at 1:00 p.m. ET.

At 12:30 p.m. ET, Fed Vice Chairman Stanley Fischer will speak on Fed monetary policy decision making in New York, while Fed Governor Jerome Powell will give a speech in New Haven, Connecticut, at 12:15 p.m. ET.

Traders work on the floor of the New York Stock Exchange.
Brendan McDermid | Reuters
Traders work on the floor of the New York Stock Exchange.


The likelihood of a rate hike this month has increased dramatically in recent weeks amid improving economic data and hawkish Fed rhetoric.

According to the CME Group's FedWatch tool, market expectations for a rate hike in March were around 77 percent.

Equities pulled back on Thursday, a day after posting their best session of the year.

On the data front Markit services PMI is due at 9:45 a.m. ET, with the ISM non-manufacturing index set to come out at 10:00 a.m. ET.

In Europe, the pan European Stoxx 600 Index was around 0.32 percent lower on Friday morning.

In oil markets, Brent crude traded at $55.30 a barrel on Friday, up 0.4 percent, while U.S. crude held at $52.74 a barrel, up 0.27 percent.