Stocks: 4 things to know before the open

August 22, 2014: 7:16 AM ET
S&P futures 2014 08 22
Click chart for in-depth premarket data.
LONDON (CNNMoney)

Could stocks hit yet another record high? It's entirely possible.

Here are the four things you need to know before the opening bell rings in New York:

1. Big day for Janet Yellen: Investors will be paying close attention to Janet Yellen's 10 a.m. ET speech at the Jackson Hole Economic Policy Symposium.

The Federal Reserve chief is expected to focus on U.S. employment trends, and investors are hoping she may give some indication about plans for interest rates and monetary policy.

Any surprise statements from Yellen tend to move markets dramatically as people reset their economic expectations.

U.S. stock futures were trending lower.

Markets advanced in the previous trading session. The S&P 500 edged up 0.3% to close at a record high, just above 1,992. The Nasdaq and Dow Jones Industrial Average also ended a touch higher.

Related: Fear & Greed Index

2. Stock market movers -- GameStop, Ross Stores, Rosneft: Shares of GameStop (GME) rose after the company said its quarterly profit doubled.

Shares of Ross Stores (ROST) also moved higher after the company reported a jump in quarterly sales and profits.

Rosneft shares drifted 2% lower in Russia after The Financial Times reported a $2 billion deal with oil trader Vitol has been shelved. The energy giant, which has seen shares fall by 9% since the start of the year, is facing Western sanctions that limit its financing options.

3. Earnings: Foot Locker (FL) and the Royal Bank of Canada (RY) will report earnings before the opening bell.

Related: CNNMoney's Tech30

4. International markets overview: European markets faltered in early trading. The benchmark indexes in France and Germany both declined by roughly 1%.

The weakness comes as tensions rise over the Ukraine-Russia conflict. Ukraine reported Friday that 90 Russian trucks are heading for the Ukraine border, in violation of an agreement between the two countries. Ukraine has warned in the past that Russian trucks can be used to help rebel separatists operating in Eastern Ukraine.

In Asia, stock markets mostly closed with small gains.

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Markets
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Index Last Change % Change
Dow 16,380.41 263.17 1.63%
Nasdaq 4,258.44 41.05 0.97%
S&P 500 1,886.76 24.00 1.29%
Treasuries 2.20 0.05 2.14%
Data as of 7:34am ET
Company Price Change % Change
Bank of America Corp... 16.21 0.13 0.81%
General Electric Co 24.82 0.57 2.35%
Microsoft Corp 43.63 0.89 2.08%
Alcoa Inc 15.62 1.02 6.99%
Pfizer Inc 27.83 0.13 0.47%
Data as of Oct 17