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Investors were also cagey ahead of next week's annual meeting of
central bankers from around the world in Jackson Hole, Wyoming,
in which Fed Chair Janet Yellen is likely to cement expectations
for a slow pace of rate increases.
Recent hawkish comments from two Fed officials have clashed with
the central bank's position that more data is needed before
interest rates can rise, according to the minutes of the Fed's
July meeting released this week.
The benchmark S&P 500 index is up 7 percent this year. Its
recent run to record highs has been partly supported by
expectations that the Fed will continue to keep rates low, as
well as some upbeat earnings and economic news.
The S&P 500 has ended higher for six out of the last eight
weeks, while the Nasdaq is on track for its eight weekly rise.
Brent crude oil prices fell on Friday after hitting an
eight-week high, as weak fundamentals countered a lift in
sentiment over talks next month on a possible output freeze.
[O/R]
Applied Materials <AMAT.O> was up 5.3 percent at $29.14 in
premarket trading after the chip equipment maker current-quarter
revenue and profit forecasts topped analysts' estimates.
Gap <GPS.N> was down 5 percent at $24.58 as the retailer's
full-year profit forecast missed analysts' estimates due to its
struggles to attract shoppers to its Banana Republic stores.
Estee Lauder <EL.N> was up 1.5 percent at $96.50 as the
cosmetics maker reported a 4.8 percent rise in quarterly sales.
Deere <DE.N> was up 2 percent at $78.50 after the farming
machinery maker posted its quarterly results.
(Reporting by Tanya Agrawal; Editing by Savio D'Souza)
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