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Here are five things you must know for Friday, Aug. 25:
 
1. -- U.S. stock futures were pointing to gains for Wall Street on Friday, Aug. 25, while shares in Europe and Asia rose as investors prepared for speeches from Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi at the gathering of global central bankers in Jackson Hole, Wyoing.
 
Yellen's speech is scheduled for 10 a.m. ET, while Draghi is expected to deliver his at 3 p.m.
 
Investors will be listening for signals from both central bankers on the direction of monetary policy and when a pull back from quantitative easing could begin. However, most economists and analysts expect few surprises.
 
"Although market participants don't expect Draghi to reveal an exit plan to end the ECB's massive bond-purchasing program during this meeting, any clues as to his view of inflation and economic development will be closely watched to gauge the likelihood of tapering by end of this year," said Margaret Yang Yan, market analyst at CMC Markets Singapore.
 
Also on the economic calendar in the U.S. on Friday are Durable Goods Orders for July at 8:30 a.m.
 
Earnings reports are expected Friday from Big Lots Inc. ( BIG) .
 
Here comes Yellen & Co.
 
 
2. -- Oil prices traded higher Friday as traders reassessed Hurricane Harvey's potential impact on production as the massive storm intensified in the Gulf of Mexico and closed in on the coastline of Texas.
 
The Gulf of Mexico accounts for about 17% of total U.S. crude production, while the coastline between Corpus Christi, Texas and Lake Charles, Louisiana, is home to about a third of national oil and gas refining capacity.
 
West Texas Intermediate crude oil for October delivery rose early Friday by 0.6% to $47.73 a barrel.

Harvey has strengthened to a Category 2 storm, according to the the U.S. National Hurricane Center. The storm is expected to make landfall near Corpus Christi late Friday or early Saturday.

Harvey could be the fiercest such storm to hit the United States in almost a dozen years. Forecasters have labeled Harvey a "life-threatening storm."

Marathon Oil Corp. (MRO) said late Thursday it was paring back operations in the Eagle Ford shale region of Texas ahead of Hurricane Harvey, Reuters reported.

3 . -- Jay Y. Lee, vice chairman of Samsung Electronics (SSNLF) , was convicted of bribery on Friday in South Korea and given a five-year prison sentence. 

Lee was found guilty of bribery, perjury and embezzlement by a three-judge panel of Seoul Central District Court. The court said Lee gave bribes to get support from ousted President Park Geun-hye. 

Lee has been the de facto head of Samsung, South Korea's largest family run conglomerate, since 2014 when his father Kun-hee Lee became incapacitated by a heart attack. 

 
Flooding likely in Texas.
Flooding likely in Texas.
 
4. -- Quintiles IMS Holdings Inc. ( Q) , the healthcare company based in Durham, North Carolina, will be added to the S&P 500 prior the the market's open on Tuesday, Aug. 29. It will replace Whole Foods Market Inc. ( WFM) , which was acquired this week by Amazon.com Inc. ( AMZN) .
In addition, SBA Communications Corp. ( SBAC) , a technology company based in Boca Raton, Florida, will be added to the S&P 500 before the open on Friday, Sept. 1. It will replace DuPont ( DD) , which is being acquired by Dow Chemical Co. ( DOW) . The new company -- DowDuPont -- will trade under symbol "DWDP" and replace DuPont on the Dow Jones Industrial Average. 

Dow Chemical is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells DOW? Learn more now.

5. -- Shares of Fiat Chrysler Automobiles NV (FCAU)  gained 0.2% in premarket trading on Friday after the company issued a statement saying it has no further response to market rumors beyond a previous statement denying it had been contacted by China's Great Wall Motor Co. (GWLLF) . 

Fiat Chrysler, the Italian-American automaker, said "from time to time" it "may receive inquiries about potential strategic transactions and will evaluate such inquiries consistent with its duties to stakeholders." The company said it issued the statement following requests from Italian market regulator Consob after the stock gained 16% since rumors of takeover talks first surfaced on Monday, Aug. 14.

The Wall Street Journal reported Thursday that German's Volkswagen AG (VLKAY) and Fiat Chrysler have engaged in talks regarding a joint venture to produce light-utility vehicles. The talks are still in their early stages but an agreement could include joint manufacturing of upcoming models of Volkswagen's Caddy panel van and its Amarok midsize pickup truck, according to the Journal.

Updated from 6:02 a.m. ET

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