US futures rising ahead of Yellen address

The Associated Press Published:

NEW YORK (AP) -- U.S. stock futures are rising ahead of an address from U.S. Federal Reserve Chair Janet Yellen.

KEEPING SCORE: Dow Jones industrial average futures are up 87 points, or 0.5 percent, to 16,327 as of 8:50 a.m. Eastern time. Standard & Poor's 500 index futures are up 10 points, also 0.5 percent, to 1,860. Nasdaq futures are up 24 points, or 0.7 percent, to 3,586.

DEALS: Johnson & Johnson accepted an offer of about $4 billion from the private equity firm The Carlyle Group to buy its Ortho-Clinical Diagnostics business. J&J said Monday that the deal for the blood-testing unit should close by mid-year. Its shares gained 54 cents to reach $97.98 in premarket trading.

THE FED: Fed Chair Janet Yellen speaks to community development professionals in Chicago at the National Interagency Community Reinvestment Conference.

EUROPE: Major markets in Europe were little changed with new reports showing anemic price gains, which could force the European Central Bank to act. Germany's DAX was up 0.1 percent while France's CAC 40 was down 0.1 percent. Britain's FTSE 100 inched up 0.2 percent.

ASIA: Japan's Nikkei 225 gained 0.9 percent amid anticipation that the government or the central bank would announce measures to support the economy to offset a sales tax hike. Hong Kong's Hang Seng added 0.4 percent while on mainland China, the Shanghai Composite shed 0.4 percent.

OTHER MARKETS: The yield on the 10-year Treasury note edged up to 2.74 percent from 2.72 percent late Friday. The price of crude oil slipped 19 cents to $101.48. Gold dropped $2.30 to $1,292.00.