Investing.com – U.S. futures were higher on Friday, as investors look ahead to comments from Federal Reserve Chairman Jerome Powell
The S&P 500 futures rose 6 points, or 0.23%, to 2,864.50 as of 6:50 AM ET (10:50 GMT) while Dow futures were up 56 points, or 0.22%, to 25,727.0. Meanwhile tech heavy Nasdaq 100 futures increased 23 points, or 0.31%,to 7,447.50.
Powell is expected to speak on Friday at the annual meeting of central bankers in Jackson Hole, Wyoming. Investors will listen closely for possible clues on future monetary policy. The central bank held interest rates unchanged at its last meeting on August 1, giving an upbeat assessment of the world's biggest economy, as it stays on course to gradually lift interest rates.
Meanwhile the U.S. and China moved ahead with 25% tariffs on $16 billion worth of goods, as trade talks between the two ended with no agreement. The two biggest economies in the world have been in a tit-for-tat trade war for months.
China said on Friday that it would not be swayed by U.S. strong arm tactics on trade.
Technology stocks were among the top gainers in pre-market trading, with Netflix (NASDAQ:NFLX) up 1.97% and Tesla (NASDAQ:TSLA) rising 0.59%. Meanwhile automaker Fiat Chrysler Automobiles NV (NYSE:FCAU) gained 2.64% while medical marijuana company Canopy Growth Corp (TO:WEED) surged 3.20%.
Elsewhere retailer Ross Stores (NASDAQ:ROST) slumped 7.12% after its outlook for the year was less than expected.
In economic news, durable goods numbers come out at 8:30 AM ET (12:30 GMT).
In Europe stocks were up. Germany’s DAX rose 29 points or 0.24% while in France the CAC 40 increased 25 points or 0.47% and in London, the FTSE 100 was up 6 points or 0.09%. Meanwhile the pan-European Euro Stoxx 50 gained 12 points or 0.37% while Spain’s IBEX 35 surged 43 points or 0.46%.
In commodities, gold futures rose 0.33% to $1,197.90 a troy ounce while crude oil futures surged 1.24% to $68.67 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, fell 0.22% to 95.35.