Updated from 6:47 a.m. EDT
NEW YORK (TheStreet) -- Here are 10 things you should know for Friday, Sept. 25:
1. -- U.S. stock futures were rising sharply Friday after Federal Reserve Chair Janet Yellen said an interest rate hike is likely this year as the U.S. economy has strengthened.
"Prospects for the U.S. economy generally appear solid," Yellen said Thursday in a speech.
European stocks rebounded on Friday following a mixed day in Asia.
2. -- The economic calendar in the U.S. on Friday includes the third estimate of second-quarter U.S. gross domestic product at 8:30 a.m. EDT, and the University of Michigan Sentiment Index for September at 10 a.m.
3. -- U.S. stocks on Thursday made a big recovery from session lows by the final hour of trading, though they finished in the red ahead of Yellen's speech.
The S&P 500 closed down 0.34%, the Dow Jones Industrial Average fell 0.48%, and the Nasdaq slid 0.38%.
The Fed chair discussed inflation and other economic matters in an address at the University of Massachusetts, a week after the Fed said it would hold its key interest rates near zero.
Yellen said she thought inflation would gradually move up to the Fed's target rate of 2% as unusually low oil prices and other factors prove temporary. She also suggested that global economic weakness won't likely be significant enough to dissuade the Fed from raising its key short-term rate from zero by December.
Following her speech, Yellen said she felt dehydrated and was seen by medical personnel as a precaution.
The Fed, in a statement later, said Yellen "felt fine afterward and has continued with her schedule Thursday evening."
5. -- Volkswagen's (VLKAF) supervisory board is meeting Friday to discuss who to name as CEO after Martin Winterkorn quit the job this week over an emissions-rigging scandal that has rocked the world's top-selling automaker.
Matthias Mueller, 62, the head of VW's Porsche unit, emerged as a favorite to take the job after Winterkorn quit.
Winterkorn, who had been CEO since 2007, said he took responsibility for the "irregularities" found by U.S. inspectors in VW's diesel engines, but insisted he had personally done nothing wrong.
Revenue increased 5% in the first quarter to $8.41 billion from $7.98 billion a year earlier. Sales in the China region jumped 30% to $886 million.
"While we are very mindful of the macroeconomic volatility in China, our brand has never been stronger and our marketplace has never been more healthy," Andy Campion, Nike's chief financial officer, said on the earnings conference call.
Apple said earlier in September that the iPhone 6s and 6s Plus were "on pace to beat last year's 10 million unit first-weekend record" in terms of sales.
The Federal Trade Commission reached an agreement with the Justice Department to spearhead an investigation of Google's Android business, the people said. FTC officials have met with technology company representatives who say Google gives priority to its own services on the Android platform, while restricting others, the people said.
The inquiry is in its early stages, and it could end without a case against the company, Bloomberg noted.
Two years ago, the FTC closed a separate investigation into Google's Internet search business.
The restructuring is intended to save the company $170 million to $220 million a year.
10. -- BlackBerry (BBRY) reported an adjusted loss of 13 cents a share for its fiscal second quarter, wider than expectations, as revenue fell to $490 million from $916 million.