Futures flat as investors await Fed

[August 24, 2016]  By Yashaswini Swamynathan

(Reuters) - U.S. stock index futures were flat on Wednesday as investors keep up their wait for Federal Reserve Chair Janet Yellen's speech on Friday for clues on the timing of a rate hike.

* Yellen's keynote speech will be the main focus of a meeting of global central bankers in Jackson Hole, Wyoming. The meet, which starts Thursday, has traditionally been used by Fed chiefs as a platform to signal the direction of monetary policy.

* Recent hawkish comments from some Fed policymakers, including Vice Chairman Stanley Fischer, have raised expectations that Yellen might signal the possibility of a hike in September.

* Wall Street has been on a record-setting run due to continued expectations for low rates, coupled with upbeat corporate earnings and strong economic data.

* Wall Street closed higher on Tuesday, with the Nasdaq hitting a record intraday high, supported by robust housing market data and gains in technology stocks.

* A report on U.S. existing home sales by the National Association of Realtors is likely to show resales fell 0.4 percent in July. The data is due at 10:00 a.m. ET (1400 GMT).

* Shares of Express Inc <EXPR.N> plunged 19 percent in premarket trading after the apparel maker slashed its full-year earnings outlook.

* Intuit <INTU.O> fell 4.9 percent after the tax-preparation software maker gave a dismal profit and revenue forecast for the current quarter.

Traders work at desks on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 23, 2016. REUTERS/Brendan McDermid

Futures snapshot at 7:01 a.m. ET:

* Dow e-minis <1YMc1> were up 11 points, or 0.06 percent, with 18,208 contracts changing hands.

* S&P 500 e-minis <ESc1> were up 2 points, or 0.09 percent, with 125,577 contracts traded.

* Nasdaq 100 e-minis <NQc1> were up 4.25 points, or 0.09 percent, on volume of 17,798 contracts.

(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Savio D'Souza)

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