U.S. equities futures were solidly in the black Friday after Federal Reserve chair Janet Yellen late Thursday said the central bank remains on track to raise interest rates late this year, soothing markets that have been volatile amid fears for the global economic growth.
Yellen suggested an initial increase this year followed by a gradual pace of tightening thereafter. "But if the economy surprises us, our judgments about monetary policy will change," Yellen said. She was speaking at the University of Massachussets, Amherst.
At 8:30 a.m. E.T. data are expected to show real gross domestic product grew 3.7% in Q2, in a consensus range between 3.5% and 4.1%, according to data compiled by Econoday.
At 9:45 a.m., the PMI services flash for September is seen edging up to 55.5 from 55.2 in August. The consensus range is between 55.1 and 56.5.
At 10:00 a.m., the consumer sentiment index is expected to have risen to 87.1in September from 85.7 in August. The consensus range is between 85.0 and 92.0.
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