US futures fall on Ukraine tension

New York - US stock index futures fell on Thursday, with the S&P 500 poised to recede further from record levels amid political uncertainty in Ukraine and ahead of comments from Federal Reserve Chair Janet Yellen.

The US bourse is set to open higher as European leaders get ready to meet. Credit: REUTERS

Kiev's new rulers urged Moscow not to abuse its navy base rights on the peninsula by moving troops around.

Yellen's appearance, originally scheduled for February 13, was postponed because of a snowstorm.

Many analysts have chalked the misses to the impact of weather instead of worsening fundamentals, a theory that has helped indexes shrug off the disappointments and send the S&P 500 to a record high earlier this week.

If Yellen does not reassure market participants about the state of economic growth, trading could take a more pronounced turn to the downside.

Dow Jones industrial average futures fell 48 points and Nasdaq 100 futures slid 6.75 points.

Penney gained 26 percent to $7.45, while Best Buy rose 2.3 percent to $26.41.

Claims are seen falling by 1,000 to 335,000 in the latest week, while orders for durable goods are seen down 1.5 percent.

The data is scheduled for release at 8:30 a.m. EST. - Reuters