Wall Street set for lower open; Dow futures down 135
U.S. stock index futures fell early on Friday, as the rocky ride in global markets continued.
Dow Jones industrial average futures (Chicago Board of Trade: @DJ.1) down more than 100 points, after the major averages closed Thursday more than 2 percent higher.
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On Friday, the benchmark Shanghai Composite (Shanghai Stock Exchange: .SSEC) index ended 4.8 percent higher , after an exceptionally volatile weak for Chinese stocks. The index closed down 7.8 percent on the week. European trade was cautious on Friday with markets narrowly lower as investors remained cautious.
Economic data due on Friday includes personal income and spending data at 8:30 a.m. EDT and the Michigan sentiment index for August at 10 a.m.
The final read on August consumer confidence from the University of Michigan, takes particular prominence. In comments Wednesday, New York Fed President William Dudley singled out the index as an indicator of the volatile stock market's impact on the economy.
Dudley said the case for a September rate hike has become less compelling . Central bank policymakers also continue their annual meeting in Jackson Hole, Wyoming, on Friday.
No major earnings are expected on Friday.
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