By Anora Mahmudova and Victor Reklaitis, MarketWatch

Tempur Sealy poised for a big down day after cutting outlook

U.S. stock futures traded roughly flat Wednesday, putting equities on track to catch their breath after the prior day's gain, which was credited in part to the outcome of the first U.S. presidential debate.

Market reaction to soft durable-goods orders was muted.

Investors are waiting for a big dose of Federal Reserve speeches and more signals from a key meeting of major oil producers.

S&P 500 futures were about unchanged at 2,152.50, while Dow Jones Industrial Average futures added 4 points, or less than 0.1%, to 18,143. Nasdaq-100 futures gained 1.50 points, or less than 0.1%, to 4,862.25.

On Tuesday, the S&P 500 closed 0.7% higher (http://www.marketwatch.com/story/us-stocks-set-for-upbeat-open-as-markets-cheer-clinton-debate-win-2016-09-27), while the Dow gained 0.7%, or 133 points. Analysts said investors bet that Hillary Clinton benefited more from Monday night's presidential debate (http://www.marketwatch.com/story/financial-markets-say-clinton-beat-trump-in-the-debate-2016-09-26), with stocks rising because the Democrat is widely seen as less unpredictable than her Republican rival Donald Trump.

The Fed front: Chairwoman Janet Yellen is due to testify about regulation and supervision before a House panel on financial services at 10 a.m. Eastern.

Elsewhere, St. Louis Fed President Jim Bullard is expected to deliver opening remarks at the St. Louis Fed's conference on community banking at 10:15 a.m. Eastern. Chicago Fed President Charles Evans is slated to speak at 1:30 p.m. Eastern about the economy at that same confab.

Cleveland Fed President Loretta Mester is expected to make remarks on the economic outlook and monetary policy at a forum in the Cleveland area at 4:35 p.m. Eastern.

Kansas City Fed President Esther George will give a speech at the Forum for Minority Bankers, speaking about the economy, payments system and leadership strategies.

In other economic news, orders for durable or long-lasting goods flattened out in August (http://www.marketwatch.com/story/durable-goods-orders-lose-steam-in-august-2016-09-28)after a sizable gain in the prior month, pointing to ongoing difficulties for American manufacturers.

Check out:

Oil meeting:Crude-oil prices (http://www.marketwatch.com/story/crude-higher-but-market-faces-long-wait-for-next-opec-move-on-output-2016-09-28) traded higher as energy traders watched for headlines from a meeting of the Organization of the Petroleum Exporting Countries that is expected to end with no deal to freeze output.

"It's likely to be a busy day for financial markets with plenty of economic data, speeches from central bankers and the outcome of the informal OPEC meeting all to come throughout the session," said Craig Erlam, senior market analyst at Oanda, in a note.

Read:Why China is the oil 'wild card' that could overrule any OPEC moves (http://www.marketwatch.com/story/why-china-is-the-wild-card-that-could-overrule-any-opec-moves-2016-09-27)

Other markets: European stocks climbed, while Asian markets closed mostly lower (http://www.marketwatch.com/story/nikkei-leads-asia-lower-on-bank-losses-yen-strength-2016-09-28). Gold futures inched down, and a key dollar index edged up.

Corporate news: Shares in Tempur Sealy International Inc.(TPX) dived 24% in premarket action after the mattress company lowered its 2016 guidance late Tuesday (http://www.marketwatch.com/story/tempur-sealy-shares-fall-as-2016-outlook-cut-2016-09-27).

Nike Inc.'s stock (NKE) lost 2% premarket as the sportswear giant's quarterly report late Tuesday indicated a slowdown in growth (http://www.marketwatch.com/story/nike-sales-and-profit-rise-orders-growth-slows-2016-09-27) for a measure of future sales.

Alphabet Inc.(GOOGL)(GOOGL) was 0.7% lower after Google's parent company was downgraded to underperform at Wedbush, which cited concerns about a new approach for the company's search ads (http://www.marketwatch.com/story/alphabet-shares-dip-premarket-as-wedbush-downgrades-to-underperform-2016-09-28).

Deutsche Bank AG's U.S.-listed shares (DBK.XE)(DBK.XE) advanced 2% following news the troubled German lender is selling an insurance business (http://www.marketwatch.com/story/european-stocks-erase-monthly-loss-as-oil-firms-deutsche-bank-rally-2016-09-28), as the country's government denied a report it is readying a rescue plan for the bank (http://www.marketwatch.com/story/german-government-preparing-rescue-plan-for-deutsche-bank-report-2016-09-28).

See:Deutsche Bank's woes not a Lehman moment, says UBS chairman (http://www.marketwatch.com/story/deutsche-banks-woes-not-a-lehman-moment-says-ubs-chairman-axel-weber-2016-09-28)

BlackBerry Ltd.(BB.T) was among the companies reporting earnings before the open. The stock was up 6% premarket after the ailing smartphone company and named a new chief financial officer.

Embattled banking giant Wells Fargo & Co.(WFC) said late Tuesday that the company's head of community banking, Carrie Tolstedt, has left the company (http://www.marketwatch.com/story/wells-fargo-executive-departs-as-probe-into-scandal-launches-2016-09-27) . At the same time, CEO John Stumpf has recused himself from a probe and agreed to forfeit outstanding equity awards worth about $41 million. Wells Fargo, rocked by a scandal involving employees opening accounts without customers' knowledge, also said independent directors and a law firm are investigating its practices. Shares were slightly higher in thin premarket trading.

 

(END) Dow Jones Newswires

September 28, 2016 08:51 ET (12:51 GMT)

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