European markets are called to open flat this morning.
Asian stocks swung between gains and losses, U.S. futures rose and the dollar retreated from a one- week high against the euro before a speech by Federal Reserve Chairman Ben S. Bernanke and data on the U.S. economy. Copper snapped a three-day rally, while Australia’s currency climbed.
U.S. stocks ended sharply lower Thursday, as investors hit the brakes following a 3-day advance, and as nervousness about Europe’ debt crisis returned to the spotlight.
Events this week
Friday - Federal Reserve Chairman Ben Bernanke will give his speech at the Kansas City Fed’ annual retreat at Jackson Hole, Wyo.
Also on Friday, the Commerce Department will release its second reading on second quarter GDP at 8:30 a.m. ET, followed by the University of Michigan’ consumer sentiment survey at 9:55 a.m. ET.
Economists expect the Commerce Department to revise second quarter GDP down to 1.1% from a previously-reported 1.3%. The University of Michigan sentiment survey is expected to rise slightly to a reading of 55.4 from the multi-year low of 54.9 reported two weeks ago.