Markets Are Going Nowhere

There isn't much action in the European markets right now.

Britain's FTSE is flat.

France's CAC 40 is up 0.1%.

Germany's DAX is down 0.1%.

Spain's IBEX is down 0.2%.

Italy's FTSE MIB is flat.

This follows a day of very modest moves in the U.S.

Later today, the U.S. will release it's latest monthly report on durable goods orders. Economists estimate orders fell 1.7% in January. Nondefense capital goods orders excluding aircraft - an important measure of business investment - is estimate to have slipped by 0.2%.

Also, Federal Reserve chair Janet Yellen will be testifying before the Senate Banking Committee for the second half of her Semiannual Monetary Policy Report to Congress.