US pre-open: Futures mixed ahead of Powell speech
Wall Street futures were mixed ahead of the bell on Tuesday as traders await comments from Fed's Powell.
As of 1325 GMT, Dow Jones futures were down 0.27%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.09% and 0.14% firmer, respectively.
The Dow closed 34.99 points lower on Monday, extending losses recorded in the previous session.
Tuesday's primary focus will be on Federal Reserve chairman Jerome Powell, who is slated to deliver a speech before the Economic Club of Washington at 1740 GMT.
AvaTrade's Naeem Aslam said: "US and European futures are flickering between gains and losses while investors are laser-focused on Jerome Powell's speech, who will be speaking later today. This will be his opportunity to provide further guidance and clarity on the Fed's monetary policy in light of the strong US NFP data.
"Today's message is highly likely to be an interesting one and there is a strong possibility that it will bring higher volatility for markets. If Jerome Powell maintains his cool and keeps the message inconsistent with the previous one, we could see a rally for the US stock market. This is a scenario that many are expecting as they do not think that the Fed is going to surprise the markets with something new and risk their reputation."
On the macro front, December trade balance figures will be published at 1330 GMT, while consumer credit change data for December will follow at 2000 GMT.
In the corporate space, Chipotle, Spirit Airlines, H&R Block, Western Union, Royal Caribbean, and Valvoline will all report earnings on Tuesday.
Reporting by Iain Gilbert at Sharecast.com