What to Watch Friday: Consumer Price Index, Baker Hughes Rig Count

On Friday, September 16, investors will have the opportunity to parse key inflation data. At 8:30 a.m. the consumer price index for August is released, which is expected to rise by 0.1% month-over-month, after showing no growth in July. Stripping out food and energy, economists are forecasting a 0.2% gain. At 10 a.m., the University of Michigan's Consumer Survey is released, which is expected to rise to 90.8. At 1 p.m., the weekly Baker-Hughes (BHI) rig count is unveiled. TheStreet's Scott Gamm reports from Wall Street.