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.
JPMorgan Chase ( JPM), a major player in providing clearing and settlement services to other financial firms, is reviewing its dealings with dozens of brokerages that use the bank to settle trades, according to people familiar with the bank, The Wall Street Journal reported.
Splunk ( SPLK) reported a narrower-than-expected fiscal second-quarter loss on Thursday with revenue 12% ahead of analysts' estimates. The data software specialist also raised its revenue outlook for the full year to between $183 million and $186 million, up from a prior range of $174 million to $177 million.
Mitt Romney accepted the Republican nomination for president on Thursday. Romney said he would "restore the promise of America." -- Written by Joseph Woelfel >To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: firstname.lastname@example.org.