Before the bell: Futures lower ahead of Bernanke’s speech (INTC, ABK, SPLS)
Posted by: in Stocks Money NewsFiled under: Before the bell, International markets, Earnings reports, Intel (INTC), Market matters, Staples Inc (SPLS), Economic data, Federal Reserve
U.S. stock futures were lower early this morning, pointing to another down day after chipmaker Intel warned on memory-chip prices and cut its profit forecast. On a day with little economic data coming out, investors will focus their attention to a speech from Federal Reserve chairman Ben Bernanke.
On Monday, stocks slogged along as the dollar weakened and two economic readings pointed to a slowing economy.The Dow Jones Industrial Average fell 7 points, or 0.06%, and the Nasdaq Composite gave up over 12 points, or 0.57%, while the S&P 500 managed less that a point rise, or 0.05%.
Fed chairman Bernanke is scheduled to speak at an Independent Community Bankers of America meeting in Orlando at 9:00 a.m. EST this morning. Bernanke will speak about the subprime crisis and preventing foreclosures. The Fed is scheduled to have a policy meeting on March 18 where monetary policy will be decided.
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