Seeking Alpha

Stock futures inch lower after two-day rally

  • Stocks edge slightly lower, pulling back from sharp gains at the end of last week; S&P -0.2%, Dow -0.1%, Nasdaq flat.
  • This week's main event will be Janet Yellen's first testimony before Congress as Fed chair tomorrow, and traders will look for clues as to whether monetary policy will remain supportive.
  • European markets erase early gains to trade little changed, with weak industrial production data weighing on sentiment; Asian markets ended mostly higher as strength last week in the U.S. market carried over.
  • Emerging market currencies are mostly lower vs. the dollar but remain well above their weakest levels hit during the recent selloff.
  • Treasurys are little changed, with the benchmark 10-year yield at 2.69%.
  • No major economic data scheduled for release today.
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