US stock index futures pointed to a slightly higher open this morning, after slumping to cycle lows yesterday. Once again, the market's attention will turn to Washington where Fed Chairman Bernanke is due to provide his semi-annual monetary policy report to the Senate Banking Committee at 10:00 ET. President Obama will follow later this evening with a nationwide speech delivered before a joint session of Congress.
In corporate news, the markets reacted positively to news that JPMorgan Chase elected to cut its quarterly dividends to $0.05 per share from $0.38. American Insurance Group (AIG) is seeking fresh capital from the government, ahead of a quarterly expected loss of more than $60 billion. On the economic front, the December Case-Shiller home price index will be released at 9:00 ET and February’s consumer confidence will be released at 10:00 ET.
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