NEW YORK (TheStreet) -- U.S. stock futures were suggesting a higher Wall Street open as markets await a speech Friday from Federal Reserve Chairman Ben Bernanke in which it's hoped he will signal the Fed's next policy steps to lift the U.S. economy.
Bernanke's speech Friday morning will take place from the annual economic symposium in Jackson Hole, Wyo.
"The Federal Reserve symposium at Jackson Hole is widely expected to disappoint," said DBS Group in a report. "The Fed has scope to continue its wait-and-see approach, and keep open the door for action if needed."
European stocks were trading higher, while Asian shares finished Friday's session with losses. Japan's Nikkei 225 declined 1.6% to 8,839.91.
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) CEO Larry Page and Apple (AAPL) 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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV