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 However, the S&P 500 was poised for its biggest weekly gain since
July despite the recent volatility that has rocked the global
financial market.
Stocks have been volatile for the past few weeks since China
devalued its currency in August and the impact of a slowdown in the
region on global growth rattled investors. The S&P 500 has had moves
of at least 1 percent in 11 sessions since Aug. 20.
U.S. data on Thursday suggested the labor market was gaining
momentum in early September as fewer Americans filed for weekly
unemployment benefits. But a separate report showed weak inflation,
further clouding the outlook for what the Fed will decide to do at
its Sept. 16-17 policy meeting.
Data scheduled to be released on Friday includes producer price
index for final demand at 8:30 a.m. ET. The index is expected to
have declined 0.1 percent in August after rising 0.2 percent in
July.
The University of Michigan will release its consumer sentiment index
at 10 a.m. ET, which is expected to have slipped to 91.2 in early
September from 91.9 in August. Also, the U.S. government is expected
to post a budget deficit of $81.5 billion in August. That data is
expected at 2 p.m. ET.
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Netflix shares were down 1.45 percent at $98.04 premarket.
ZS Pharma was up 5.4 percent at $78.79 after Swiss drugmaker
Actelion initiated talks that could lead to a bid for the U.S.
biotech company.
(Reporting by Tanya Agrawal; Editing by Don Sebastian)
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