Before the bell: Markets to open higher before Bernanke's speech

Stock futures are higher this morning, indicating a similar start to U.S. stocks as the market awaits a speech by Federal Reserve Chairman Ben Bernanke. This is after a day of speeches from Federal Reserve officials that left markets wondering how much a Fed rate cut could boost the economy.

Yesterday, good news from the technology sector such as Intel boosting its sales forecast and Apple announcing the sale of the one millionth iPhone balanced against speeches from Fed officials who themselves couldn't agree on the state on the economy and how much of a rate cut should be implemented on September 18. The direction the Street was hoping to get was not present and stocks reacted accordingly, closing a volatile day mixed with the Dow ending up slightly while the Nasdaq and the S&P 500 down.

Today, Fed chairman Bernanke will be the focus of investors as he gives a speech in Berlin at 10:00 a.m. EDT. Any hint of a rate cut and the size of it -- many now hope for half a point rate cut rather than a quarter point due to Friday's disappointing employment report and as the chance of recession rises -- may move the markets. However, since the speech given in Berlin is regarding global imbalances, he also may not mention anything that pertains to possible rate cuts.

Today marks the sixth anniversary of the September 11, 2001, attacks on New York and Washington, an attack that shook Wall Street and impacted the financial community deeply. As Wall Street, the U.S. and the world remembers these attacks, the mastermind behind them has released another video.

Economic data is light today with July trade balance report due at 8:30 a.m. EDT. The trade gap is expected to have widened to $59 billion from $58.1 billion in the previous month.

Overseas, Asian stocks were mixed with Japan stocks rebounding, but with Shanghai-listed stocks suffering their biggest single-day percentage drop in more than two months. Many in China now expect a rate hike after China's consumer price index in August hit a 10-year high and its trade surplus was up 33%, the second largest on record. European stocks were generally higher by midday trading.

Corporate news:

Wal-Mart Stores Inc. (NYSE: WMT) announced yesterday that it reduced its reported second-quarter profit by $153 million due to expenses from selling its German retail operations.

Take-Two Interactive Software (NASDAQ: TTWO) shares are gaining 2.3% in premarket action after the company posted a smaller-than-expected loss after the bell yesterday.