By Sara Sjolin, MarketWatch
Apple slips as Apple Watch preorders go live
LONDON (MarketWatch) -- U.S. stocks were poised for a soft open
on Wall Street on Friday, with the dollar in the spotlight ahead of
a Jeffrey Lacker speech that could shed more light on the Federal
Reserve's timing of the first rate hike.
Apple was also in the spotlight as the tech giant flicked the
switch for pre-orders of its Apple Watch.
Futures for the Dow Jones Industrial Average (YMM5) slipped 20
points, or 0.1%, to 17,867, while those for the S&P 500 index
(ESM5) lost 1.70 points, or 0.1%, to 2,083.75. Futures for the
Nasdaq 100 index (NQM5) gave up 3.75 points, or 0.1%, to
4,395.50.
Even with Friday's potential losses, U.S. stocks were still on
track to close out the week in positive territory. The trading
action over the past week has been volatile, however, with a mixed
message from the Fed
(http://www.marketwatch.com/story/several-on-fed-favored-june-rate-increase-minutes-2015-04-08),
the unofficial kickoff
(http://www.marketwatch.com/story/investors-boo-alcoa-but-most-analysts-remain-cheerful-2015-04-09)
of the earnings season and M&A optimism
(http://www.marketwatch.com/story/whos-the-next-target-for-oil-ma-after-the-shell-bg-deal-2015-04-08)
pulling the market in different directions.
Lacker speech: Capping off the choppy week, the Fed and its
rate-hike consideration are again among the highlights. Richmond
Fed President Jeffrey Lacker, who is a voting member of the Federal
Open Market Committee this year, will give a speech on the economic
outlook in Sarasota, Fla., at 8:45 a.m. Eastern Time and investors
will closely be watching for hints as to when the central bank
might start to tighten policy.
Lacker, who is considered one of the most hawkish members of the
Fed, said in late March that he sees a "strong" case for a rate
hike in June
(http://www.marketwatch.com/story/feds-lacker-sees-strong-case-for-june-rate-hike-2015-03-31).
However, that was before the nonfarm payrolls report for March
significantly missed expectations
(http://www.marketwatch.com/story/us-jobs-growth-in-march-slumps-to-15-month-low-2015-04-03),
leaving investors to watch for cues if Lacker's liftoff mood has
shifted.
The minutes from the Fed's March meeting -- also held before the
disappointing jobs report -- showed several central bank officials
thought June was an appropriate
(http://www.marketwatch.com/story/several-on-fed-favored-june-rate-increase-minutes-2015-04-08)
time for a rate hike.
Minneapolis Fed President Narayana Kocherlakota -- a non-voter
this year -- is due to speak at the Minnesota Credit Union annual
meeting in Bloomington, Minn., at 12:20 p.m. Eastern.
The ICE dollar index (DXY) pitched 0.3% higher
(http://www.marketwatch.com/storyno-meta-for-guid) to 99.40 ahead
of the speeches, closing in on the 100-mark and reaching the
highest level in three weeks.
Data: The import-price index for March is due at 8:30 a.m.
Eastern, expected to show a drop of 0.2%, according to economists
polled by FactSet.
The Federal budget for March comes out at 2 p.m. Eastern.
Stocks to watch: Shares of Apple Inc.(AAPL) fell 0.8% ahead of
the bell as the company kicked off its online preorder period
(http://www.marketwatch.com/story/how-to-buy-an-apple-watch-2015-04-09)
for the Apple Watch. Starting on April 24, the watch will also be
available at stores in big cities including Colette in Paris, Dover
Street Market in London, Tokyo, Maxfield in Los Angeles and The
Corner in Berlin.
Ruby Tuesday Inc.(RT) gave up 2.6% premarket after the
restaurant chain late Thursday said sales for the fiscal fourth
quarter and full-year same-restaurant sales were likely to be flat
or to decline 1%
(http://www.marketwatch.com/story/ruby-tuesday-shares-up-after-company-narrows-quarterly-loss-2015-04-09).
Shares of Citrix Systems Inc.(CTXS) could also move after the
software company late Thursday lowered its first-quarter profit and
sales outlook.
Other markets: European stocks continued their march higher
(http://www.marketwatch.com/storyno-meta-for-guid), with the Stoxx
Europe 600 and Germany's DAX 30 index on track for record closing
highs.
Japan's Nikkei 225 index briefly rose above 20,000, but closed
almost 100 points shy of the milestone
(http://www.marketwatch.com/storyno-meta-for-guid).
Metals (GCM5) mostly rose, while oil (CLK5) declined
(http://www.marketwatch.com/storyno-meta-for-guid).
Subscribe to WSJ: http://online.wsj.com?mod=djnwires