US stocks to open flat ahead of regional Fed remarks

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US stocks were set to open flat or slightly lower on Wednesday as investors await another round of speeches from Federal Reserve officials.

The presidents of the Cleveland, Dallas and San Francisco Federal Reserve Banks were scheduled to speak at separate events throughout the morning, following remarks from two officials on Tuesday that signalled there may be more than three rate increases this year.

Futures pointed to the S&P 500, Dow Jones Industrial Average and Nasdaq Composite opening less than 0.1 per cent lower.

The S&P 500 and Dow Jones Industrial Average have just two more days to erase losses for the month. The S&P 500 has lost 1.5 per cent over the month, while the Dow has fallen 2.2 per cent.

US Treasury yields were slightly higher on the day. The 10-year note’s yield, which moves inversely to price, was up 1.8 basis points to 2.394 per cent.

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