U.S. equities paused Thursday after a record-setting rally Wednesday, while investors digested higher rate-hike expectations and Snap’s strong IPO.
The futures are telling us that selling looks set to continue in Friday trade.
Investors will shift their attention to Janet Yellen, as she is set to speak at 1 p.m. ET/ 6 p.m. London.
Market expectations for a rate hike are already through the roof, but there is chatter that Yellen may try and give herself some wiggle room just in case the jobs report on March 10 comes out weak.
Friday U.S. data to watch (all times E.T.)
0945 PMI Services Index
1000 ISM Non-Mfg Index
1015 Fed’s Evans* & Lacker Speak
1215 Fed’s Powell Speaks
1230 Fed’s Fischer Speaks
1300 Oil Rig Count
1300 Yellen Speaks
Live: US markets set to continue pull-back as Trump rally takes breather – http://www.cnbc.com/2017/03/03/sessions-recuse-trump-election-investigation-campaign.html