Futures edge lower on Ukraine tension; Yellen on tap
Send a link to a friend
[August 22, 2014]
By Chuck Mikolajczak
NEW YORK (Reuters) - U.S.
stock index futures were slightly lower on Friday, after
the latest flare of tensions between Ukraine and Russia
and ahead of a speech by Federal Reserve Chair Janet
After holding near the unchanged mark, futures lost ground after
Ukrainian authorities said 90 trucks from a Russian aid convoy had
crossed into Ukraine without permission and Ukraine's state security
chief said the move amounted to a "direct invasion" by Russia.
Market participants will closely monitor a speech Yellen is due to
make at a policymakers' meeting in Jackson Hole, Wyoming, for
insights into how soon interest rates may be raised. European
Central Bank President Mario Draghi is also expected to speak.
The S&P 500 <.SPX> notched its fourth straight gain on Thursday and
rallied to its most recent record closing high of 1,992.37, buoyed
by a flurry of positive economic data. The benchmark index is up 1.9
percent for the week, on track for its best week in four months.
S&P 500 e-mini futures <ESc1> were down 2.5 points and fair value -
a formula that evaluates pricing by taking into account interest
rates, dividends and time to expiration on the contract - indicated
a slightly lower open. Dow Jones industrial average e-mini futures
<1YMc1> fell 13 points and Nasdaq 100 e-mini futures <NQc1> lost
Foot Locker <FL.N> climbed 3.5 percent to $54.40 in premarket trade
after the athletic footwear and apparel retailer reported
[to top of second column]
Aeropostale <ARO.N> shares slumped 9 percent to $3.56 before the
opening bell. The teen apparel retailer reported a drop in
same-store sales and a second-quarter loss a day earlier.
Home Depot Inc <HD.N> named retail industry veteran Craig Menear as
its chief executive, four months after he was appointed head of the
home improvement chain's U.S. retail business.
European shares fell on the heels of the Russian convoy news while
an index of Asian shares neared a six-and-half-year peak in the wake
of the record close on Wall Street.
(Editing by Bernadette Baum)
[© 2014 Thomson Reuters. All rights
2014 Reuters. All rights reserved. This material may not be
published, broadcast, rewritten or redistributed.