MARKET SNAPSHOT: U.S. Stock Investors Yearn For Direction From Yellen Testimony

By Barbara Kollmeyer, MarketWatch

Case-Shiller home prices, Home Depot earnings ahead

NEW YORK (MarketWatch) -- U.S. stock futures were barely budging ahead of the first day of testimony by Federal Reserve Chairwoman Janet Yellen to Congress on Tuesday, with some wary she may strike a hawkish tone on the timing of the next interest-rate hike.

Also ahead, Case-Shiller home prices and a consumer confidence index are due to be released, as are a handful of earnings reports. Shares of Home Depot Inc. and Toll Brothers Inc. were both higher after separately releasing results.

Futures for the Dow Jones Industrial Average (DJH5) added 14 points to 18,099, while those for the S&P 500 index (SPH5) were flat at 2,107.10. Futures for the Nasdaq-100 index (NDH5) traded off 2.5 points to 4,442.

The Dow industrials(DJI) and S&P 500 (SPX) finished Monday on a lackluster note as falling energy stocks weighed. But the Nasdaq Composite (RIXF) stood out by marking a ninth straight session of gains -- though with just a 0.1% rise. It was lifted by heavyweight Apple Inc. (AAPL), which rose 2.7%.

Fed Chairwoman Yellen could call the shots for the market on Tuesday, as she addresses the Senate Banking Committee. Her testimony is scheduled to begin at 10 a.m. Eastern Time. (http://www.marketwatch.com/story/janet-yellen-could-strike-hawkish-tone-before-congress-2015-02-23)

Need to Know: Janet Yellen is about to swoop in on this tranquil stock market (http://www.marketwatch.com/story/janet-yellen-is-about-to-swoop-in-on-this-tranquil-stock-market-2015-02-24)

"We expect she will want to preserve policy flexibility, keeping the prospect of a midyear rate hike on the table; this may impart a mildly hawkish tone, especially in light of the recent minutes release," said analysts at Credit Suisse in a note.

Some say she could surprise investors by keeping alive the possibility of a June rate hike, even though the minutes of the most recent Federal Reserve meeting showed a dovish tone. In the time since that meeting, the markets got a strong January jobs report.

Read: Janet Yellen could strike a hawkish tone before Congress (http://www.marketwatch.com/story/janet-yellen-could-strike-hawkish-tone-before-congress-2015-02-23)

Ahead of Yellen, the Case-Shiller home price index for January will be released at 8:30 a.m. Eastern Time. Then at 10 a.m. Eastern, the consumer-confidence index for February is scheduled for release.

Stocks to watch: Toll Brothers Inc.(TOL) reported better-than-expected profit and sales ahead of the open and shares rose 4% in premarket trading. Home Depot Inc. (HD) shares jumped 3.3% after posting a strong surge in sales, though the company also warned (http://www.marketwatch.com/story/home-depot-sales-beat-warns-on-dollar-2015-02-24) on a strong dollar in its outlook for the year.

Macy's Inc.(M) shares were down slightly after the retailer beat profit estimates but sales figures come below expectations. The outlook was also downbeat.

Shares of First Solar Inc.(FSLR) and SunPower Corp.(SPWR) rose 14% and 15%, respectively, late trade after those companies said late Monday that they plan an initial public offering for a pooled-asset spinoff (http://www.marketwatch.com/story/dish-dillards-express-scripts-earnings-in-focus-2015-02-23).

Other markets: European stocks inched up, while the Athens Composite Index surged 6%, after initial comments on Greece's reform proposal from European officials pointed to the approval of a four-month bailout extension (http://www.marketwatch.com/story/greek-stocks-bonds-rally-on-bailout-deal-optimism-2015-02-24).

European Central Bank President Mario Draghi will unveil the EUR20 banknote in Frankfurt on Tuesday, and give a speech at the same time (http://www.marketwatch.com/story/what-time-does-draghi-speak-on-tuesday-2015-02-24).

In Asia, the Nikkei 225 index nabbed a fresh 15-year high (http://www.marketwatch.com/story/japan-stocks-at-fresh-15-year-high-ahead-of-yellen-testimony-2015-02-24). The dollar was firmer against the yen (USDJPY) and euro (EURUSD) .

Crude-oil prices (http://www.marketwatch.com/story/oil-prices-continue-to-fall-pushing-brent-under-60-a-barrel-2015-02-24)(CLJ5) turned slightly higher, while gold (http://www.marketwatch.com/story/gold-faces-three-straight-down-days-ahead-of-janet-yellens-testimony-2015-02-24)(GCJ5)(GCJ5) remained under pressure.

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