U.S. stock index futures jumped Friday, looking to recover from the previous session's sharp losses, as investors looked to Fed Chairman Ben Bernanke's speech at Jackson Hole for clues on further stimulus measures and ahead of some key economic reports.
Stocks tumbled in the previous session, with the S&P 500 falling below the key 1,400 level and the Dow closing at 13,000, amid jitters over the Fed's Jackson Hole meeting and following reports that Spain may delay its decision on seeking a bailout.
Bernanke is expected to speak at 10 am ET. Investors will be parsing through his speech for signs the central bank is close to launching further stimulus measures, which will likely boost the stock market. (Read More: Will Bernanke Take the Plunge?)
Macroeconomic data out on Thursday includes the Chicago Purchasing Managers Index of manufacturing activity at 9:45 a.m. New York time. Analysts polled by Briefing.com expect the index to rise from 53.7 in July to 53.8 in August.
The University of Michigan Consumer Sentiment survey for August is due out at 9.55 a.m. Analysts polled by Briefing.com expect the index to remain at 73.6. On Thursday, the Commerce Department reported that consumer spending rose by 0.4 percent in July, its largest gain in five months, while income increased by 0.3 percent.