US STOCKS-Futures rise ahead of Yellen's speech,

  • Reuters
  • Stock Market News
US STOCKS-Futures rise ahead of Yellen's speech,

* Futures up: Dow 14 pts, S&P 0.5 pts, Nasdaq 3.5 pts

By Tanya Agrawal

May 22 (Reuters) - U.S. stock index futures were higher on Friday, a day after the S&P 500 ended at an all-time high and ahead of Federal Reserve Chair Janet Yellen's take on the economy that investors will peruse for clues on the timing of a rate hike.

* Yellen's speech at 1:00 p.m. ET (1700 GMT) is expected to acknowledge the recent economic sluggishness, including near stagnant performance in the first few months of the year. ID:nL1N0YB2LD

* Before Yellen takes the podium, data is expected to show that consumer prices rose for a third straight month in April, signaling a rise in inflation, which could keep the Fed on track to raise rates. The Consumer Price Index data is due at 8:30 a.m. ET (1230 GMT).

* The S&P 500 .SPX ended at 2,130.82 on Thursday, barely beating its previous record close of 2,129.2 from Monday.

* While the Dow and the S&P are near record levels this week, trading has stayed in a narrow range and volumes have been subdued as the quarterly earnings season draws to a close.

* Aeropostale ARO.N slumped 22.8 percent to $2 in premarket trading after the teen apparel retailer estimated a bigger-than-expected quarterly loss. ID:nL3N0YC5GJ

* ELong LONG.O soared 35.8 percent to $28.04 after Expedia EXPE.O said it sold its entire stake in the Chinese online travel company to rival Ctrip.com CTRP.O and others. Ctrip was up 4.9 percent at $75.50. ID:nL3N0YD43W

* Foot Locker (NYSE: FL ) FL.N was up 3.9 percent at $66.10 and Deere & Co DE.N rose 1.8 percent to $91.05 after the companies posted better-than-expected quarterly profits. ID:nL1N0YC2KN

* BlackBerry BBRY.O shares rose 2.2 percent to $10.50 on the smartphone maker's plans to buy back stock. ID:nL3N0YC5Q5

Futures snapshot at 7:24 a.m. ET (1124 GMT):

* S&P 500 e-minis ESc1 were up 0.5 points, or 0.02 percent, with 57,049 contracts traded.

* Nasdaq 100 e-minis NQc1 were up 3.5 points, or 0.08 percent, on volume of 7,831 contracts.

* Dow e-minis 1YMc1 were up 14 points, or 0.08 percent, with 12,980 contracts changing hands.

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