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27Jun2017 Pre-Market Commentary: Wall Street To Open Flat, Investors Are Watching Carefully Yellen's Speech And Financial Data Reports At 10 AM

Written by Gary

US stock index futures are flat and lower (SPY -0.1%) as a selloff in technology shares continues. Investors await clues on interest rate hikes from Fed Janet Yellen's speech, fluctuating crude prices and a weaker dollar.

Here is the current market situation from CNN Money

European markets are lower today with shares in France off the most. The CAC 40 is down 0.69% while Germany's DAX is off 0.62% and London's FTSE 100 is lower by 0.15%.

Today's Markets

In Asia, Japan +0.4%. Hong Kong -0.1%. China +0.2%. India -0.6%.
In Europe, at midday, London flat. Paris -0.5%. Frankfurt -0.4%.
Futures at 6:20, Dow -0.1%. S&P -0.1%. Nasdaq -0.4%. Crude +1.1% to $43.84. Gold +0.5% to $1252.40.
Ten-year Treasury Yield +3 bps to 2.16%

Today's Economic Calendar

4:05 Fed's Williams Speech
8:55 Redbook Chain Store Sales
9:00 S&P Corelogic Case-Shiller Home Price Index
10:00 Consumer Confidence
10:00 Richmond Fed Mfg.
10:00 State Street Investor Confidence Index
11:15 Fed's Harker: Economic Outlook
1:00 PM Janet Yellen speech
1:00 PM Results of $34B, 5-Year Note Auction

Companies reporting earnings today »

What Is Moving the Markets

Here are the headlines moving the markets.

EU fines Google record $2.7 billion in first antitrust case

BRUSSELS (Reuters) - EU antitrust regulators hit Alphabet unit Google with a record 2.42-billion-euro ($2.7 billion) fine on Tuesday, taking a tough line in the first of three investigations into the company's dominance in searches and smartphones.

Stock futures slip on tech selloff; Yellen in focus

(Reuters) - U.S. stock index futures were lower on Tuesday as a selloff in technology shares continued, while investors awaited clues on interest rate hikes from Federal Reserve Chair Janet Yellen's talk in London.

Charter, Comcast explore wireless partnership with Sprint: sources

(Reuters) - U.S. wireless carrier Sprint Corp is in talks with Charter Communications Inc and Comcast Corp about a partnership to boost the two U.S. cable companies' wireless offerings, according to sources familiar with the matter.

With Alphabet, Google faces a daunting challenge: organizing itself

SAN FRANCISCO (Reuters) - Google's self-professed mission is to organize the world's information. But a company known for engineering excellence is still trying to solve the very human problem of how to organize itself.

Apple CEO touts India impact in push for deeper market access

(Reuters) - Apple CEO Tim Cook on Sunday highlighted the economic impact the company is having on India in a meeting with its prime minister as the iPhone maker seeks deeper access to the world's third-largest smartphone market behind the United States and China.

Exclusive: Ericsson scraps push for new clients beyond telecoms

LONDON/STOCKHOLM (Reuters) - Ericsson has ditched its goal of winning more clients beyond the telecoms industry to refocus on selling networks to mobile phone companies in a move to cut costs and halt a dramatic fall in its share price.

Oil prices up on weaker dollar, but supply glut caps gain

LONDON (Reuters) - Oil prices rose for a fourth consecutive session on Tuesday boosted by a weaker dollar but worries over persistent oversupply capped gains.

Germany plans new emissions testing body after VW scandal

BERLIN (Reuters) - Germany will set up a new organization to test vehicle emissions to try to restore consumer confidence after Volkswagen's emissions scandal revealed an industry-wide pollution problem, the transport ministry said on Tuesday.

In Amazon's shadow, hedge funds take aim at Brexit-hit retailers

LONDON (Reuters) - Hedge funds have significantly stepped up bets against Britain's traditional high street retailers, as the sector struggles with online competition, worries about a stretched consumer and weakening sales and profits.

Why Central Banks Need to Worry About Falling Oil Prices

The effect of declining oil prices on inflation raises some awkward questions for markets and policy makers.

SoftBank Should Hurry to Rid Itself of Sprint

Japanese tech giant SoftBank has higher priorities than its 83% stake in struggling U.S. telecom operator Sprint.

To Predict U.S. Stocks and Inflation, Keep an Eye on Chinese Electricity

After a bubbly first quarter, Chinese growth is moderating again. A not too hot, not too cold China is good for U.S. stocks.

The Ratings Game: Costco's share-price plunge created a buying opportunity, analyst says

Costco's stock surged after Raymond James upgraded the membership-based warehouse retailer, saying the recent selloff in the wake of Amazon's deal to buy Whole Foods created an opportunity for investors to buy.

This is why millennials can't have nice things (or save any money)

Avocado toast is the least of young Americans' worries.

London Markets: FTSE 100 struggles as retailers, home builders lose ground

U.K. stocks pulled lower Tuesday, with a warning from British department store Debenhams PLC dragging down shares of blue-chip retailers.

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