FOX Business: Capitalism Lives Here
U.S. stock-index futures hovered in a narrow range on Friday as traders awaited a report on the housing market and commentary from a top Fed official.
As of 9:25 a.m. ET, Dow Jones Industrial Average futures rose 32 points to 14971, S&P 500 futures gained 5.6 points to 1661 and Nasdaq 100 futures jumped 23.8 points to 3125.
After a tumultuous session marked by a historic, three-hour halt in Nasdaq-listed securities, action was considerably quieter on the Street Friday. Traders will were parsing through a smattering of corporate news and awaiting key economic developments.
Microsoft (MSFT) chief executive Steve Ballmer decided to retire within the next 12 months upon the completion of a process to choose his successor, the software giant said. Shares were higher by 6% in pre-market trading.
Meanwhile, traders were awaiting the latest reading on new home sales. Economist expect 490,000 new, single-family homes to have been sold in July, down from 497,000 the month before.
Federal Reserve Vice Chairman Janet Yellen was also slated to make remarks at the central bank's annual conference in Jackson Hole, Wy. There has been an intense focus on commentary from top Fed officials lately amid worries about when the Fed will begin paring back its vast bond-buying program.
Elsewhere, U.S. crude oil futures fell 36 cents, or 0.34%, to $104.68 a barrel. Wholesale New York Harbor gasoline jumped 1.2% to $3.00 a gallon. Gold rose $1.30, or 0.09%, to $1,372 a troy ounce.