© Reuters. Traders deal with the floor of the New York Stock Exchange quickly after the opening bell in New York
By Yashaswini Swamynathan (Reuters) – U.S. stock index futures inched higher on Monday as investors wait for Federal Reserve Chair Janet Yellen’s speech after a shockingly weak jobs report all but eliminated the prospects of an interest rate hike this month. * Yellen, who just recently signified that the recuperating economy could support a rate trek as quickly as June, will speak prior to the World Affairs Council in Philadelphia at 12:30 p.m. ET (1630 GMT). * Expectations for the next Fed rate hike were pressed back to at least July or later after U.S. May non-farm payrolls data on Friday showed employers added only 38,000 tasks in Might, far below expectations of 164,000. * Numerous traders presume Yellen may craft her message to keep expectations for a July trek alive. The speech is most likely to be her last before the Fed enters a media blackout duration ahead of the its monetary policy meeting on June 14-15. * Yellen speech will be evaluated to see whether the Fed views the weak jobs data as an anomaly or if it shows a broader slowing down of the labor market. * Traders are now pricing in an only 3.8 percent possibility of a rate hike this month, while the probabilities of a July hike have actually slumped to 30 percent, from 49 percent before the tasks report, according to CME Group’s FedWatch tool. * Wall Street closed lower on Friday weighed down by bank stocks, after the disappointing tasks report. * Oil prices rose over 1 percent on Monday on a weak dollar and as attacks on oil infrastructure in Nigeria topped some output. [O/R] * Wal-Mart’s (N:-RRB- shares were up 1 percent at $71.58 premarket after Jefferies updated the stock to “buy”. Futures snapshot at 7:15 a.m. EDT: * Dow e-minis () were up 29 points, or 0.16 percent, with 17,069 contracts altering hands. * S&P 500 e-minis () were up 2.25 points, or 0.11 percent, with 129,882 contracts traded. * Nasdaq 100 e-minis () were up 7 points, or 0.16 percent, on volume of 14,340 contracts. Disclaimer: Blend Media want to remind you that the information included in this site is not necessarily real-time nor precise. All CFDs (stocks, indexes, futures) and Forex costs are not provided by exchanges but rather by market makers, therefore costs may not be precise and might differ from the actual market price, suggesting prices are indicative and not appropriate for trading functions. For that reason Blend Media does n`t bear any duty for any trading losses you might incur as a result of using this information. Combination Media or anyone included with Blend Media will not accept any liability for loss or damage as an outcome of dependence on the info consisting of information, quotes, charts and buy/sell signals included within this website. Please be fully informed regarding the dangers and costs associated with trading the financial markets, it is among the riskiest financial investment types possible.