MARKET SNAPSHOT: U.S. Stocks: Wall Street Trades Sideways Ahead Of CPI, Durable-goods Data

By Barbara Kollmeyer, MarketWatch

Salesforce.com, Kohl's among stocks in focus

MADRID (MarketWatch) -- U.S. stock futures pointed to small gains at Wall Street's open on Thursday, as investors moved past Federal Reserve Chairwoman Janet Yellen's testimony to watch for consumer-price data that's key to debate about interest rates.

More retailers will roll out reports Thursday, with Kohl's Corp. the biggest to report ahead of the bell.

Futures for the Dow Jones Industrial Average (DJH5) rose 23 points to 18,216, while those for the S&P 500 index (SPH5) added 3.3 points to 2,113.50. Futures for the Nasdaq-100 (NDH5) gained 8.5 points to 4,445.25.

Read: Stock gains are making us dangerously complacent (http://www.marketwatch.com/story/stock-market-gains-are-making-us-dangerously-complacent-2015-02-25)

The Dow industrials was the only big index to close at a record on Wednesday, though it managed just a 0.1% gain. Markets gained as Yellen gave her second day of testimony before Congress, though those rises largely faded. The Nasdaq Composite (RIXF) finished down 0.02%, breaking its 10-day winning streak.

Two important pieces of data are coming, both at 8:30 a.m. Eastern Time: The consumer-price index and durable goods, both for January.

Of this data, the CPI will get the most attention, and some forecasters expect a headline negative rate for the first time since 2009. "The Fed are among those who have not predicted inflation very well, and our main issue with a rate rise this summer is that it might be based on faulty forecasts of a recovery in inflation," said Jim Reid, strategist at Deutsche Bank, in a note to investors.

"Yes, it might happen, but the certainty must be low at the moment. Surely it's best to wait for a bit more evidence first," said Reid.

Read: Opinion: Company executives are betting on this bull market (http://www.marketwatch.com/story/company-executives-are-betting-on-this-bull-market-2015-02-25)

(http://www.marketwatch.com/story/company-executives-are-betting-on-this-bull-market-2015-02-25)Also coming, at 9 a.m. Eastern Time, is the release of the Federal Housing Finance Agency home-price index for December.

Stocks in focus: Kohl's (KSS) and SeaWorld Entertainment Inc (http://www.marketwatch.com/story/what-to-expect-from-seaworlds-earnings-2015-02-25).(SEAS) will report ahead of the bell. They will be followed by Herbalife Ltd.(HLF), J.C. Penney Co. Inc.(JCP), Gap Inc.(GPS) and Ross Stores Inc.(ROST) after the close.

Read: Herbalife, J.C. Penney, Kohl's earnings in focus (http://www.marketwatch.com/story/herbalife-jc-penney-kohls-earnings-in-focus-2015-02-26)

(http://www.marketwatch.com/story/herbalife-jc-penney-kohls-earnings-in-focus-2015-02-26)Shares of Salesforce.com Inc (http://www.marketwatch.com/story/salesforce-posts-strong-growth-in-deferred-sales-2015-02-25-164855910).(CRM) were up another 11% in thin premarket trading. Late Wednesday, the software maker posted strong growth in deferred sales, which measures its future sales from a subscription-based business model.

Shares of UIL Holdings Corp.(UIL) could see action after Spanish utility Iberdrola ES announced plans to buy the power and gas distributor in a $3 billion cash and shares deal (http://www.marketwatch.com/story/iberdrola-to-buy-uil-holdings-for-3-billion-in-shares-cash-2015-02-26).

Other markets:European stocks (http://www.marketwatch.com/story/european-stocks-rise-as-german-unemployment-falls-2015-02-26) got a small lift from news of a fall in German unemployment, while Japanese stocks (http://www.marketwatch.com/story/japan-stocks-touch-15-year-high-again-2015-02-26) once again touched a 15-year high. Gold (http://www.marketwatch.com/story/gold-puts-janet-yellen-in-rearview-mirror-moves-higher-2015-02-26)(GCJ5) was looking at a second day of gains, up another $18 to $1,219.50 an ounce. Oil (http://www.marketwatch.com/story/oil-gives-back-some-gains-as-investors-weigh-up-supply-2015-02-26) futures (CLJ5) pulled back in the wake of Wednesday's higher prices.

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