US Markets

With little data, Wall Street set to focus on Fed speeches

Positive momentum in evidence as first half of year

U.S. stock index futures pointed to a flat open on Tuesday, as investors gear up for another batch of remarks from leading Federal Reserve officials.

Dow futures were down 9 points, while S&P futures slipped 1.5 points. Nasdaq futures gained 8.75 points.

With little economic data due out on Tuesday, investors are likely to shift their attention to speeches by three leading Fed members, to see if they elaborate on the state of the U.S. economy, after the central bank recently chose to raise rates for the second time in 2017.

Pedestrians walk outside the New York Stock Exchange.
Michael Nagle | Bloomberg | Getty Images

Boston Fed President Eric Rosengren is set to deliver remarks at the DNB-Riksbank Macroprudential Conference Series in Amsterdam on Tuesday, where he is expected to comment on the state of the U.S. economy.

Fed Vice Chairman Stanley Fischer is also at the meeting in Amsterdam, where he has delivered a keynote speech. At the event, Fischer warned that while the U.S. and other nations have taken actions to strengthen their housing finance systems, more needs to be done to prevent a future crisis; according to Reuters.

Later on in the day, Dallas Fed President Robert Kaplan will be at the Commonwealth Club of California, in San Francisco, where he is likely to weigh in on current economic conditions and implications for monetary policy.

In the earnings sphere, Adobe Systems, FedEx and La-Z-Boy are all set to report. Sticking with data, the Current Account is slated to come out at 8:30 a.m. ET.

Meanwhile on the oil front, prices under pressure as concerns of a glut in the market continued to add pressure to sentiment.

At 8:14 a.m. ET, U.S. crude was hovering around $43.03, while Brent stood at $45.73 per barrel.

In Europe, bourses were trading marginally lower, while Asia-Pacific markets finished trade on a mixed note.

In the previous session, U.S. stocks finished higher as technology stocks recovered from a wobbly performance last week.

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