The economic calendar in the U.S. Friday includes the Chicago purchasing managers index for August at 9:45 a.m. EDT, the final University of Michigan consumer sentiment reading for August at 9:55 a.m., and actory orders for July at 10 a.m.
U.S. stocks on Thursday finished deep in the red, driven lower by a rekindling of worries about Europe's debt crisis and uneasiness about Bernanke's speech Friday The Dow Jones Industrial Average dropped nearly 107 points, or 0.81%, to close at 13,000.71. The S&P 500 declined 11 points, or 0.78%, to settle at 1399.48. The Nasdaq lost 32 points, or 1.05%, to finish at 3049.
Google (GOOG - Get Report) CEO Larry Page and Apple (AAPL - Get Report) CEO Tim Cook have been conducting behind-the-scenes talks about a range of intellectual property matters, including the mobile patent disputes between the companies, people familiar with the matter told Reuters. The two executives had a phone conversation last week, the sources said, and they are expected to talk again in the coming weeks, though no firm date has been set. One possible scenario under consideration could be a truce involving disputes over basic features and functions in Google's Android mobile software, one source said. Meanwhile, a Tokyo court on Friday dismissed Apple's claim that Samsung had infringed on its patent, the latest ruling in the global fight of the two tech giants.