Meanwhile, Dallas Fed President Robert Kaplan said that the normalization of monetary policy was being hampered by a low neutral rate, according to Reuters. "There is room for the Fed to maneuver but not as much as people might think because the neutral rate of interest is somewhat lower than people think," he said.
Finally, Thursday also saw San Francisco Fed President John Williams state that, "in the context of a strong domestic economy with good momentum, it makes sense to get back to a pace of gradual rate increases, preferably sooner rather than later."
Investors will also be eyeing the latest release of U.S. rig count data for more signs that U.S. production could pick up with rising crude prices. Baker Hughes' rig count is expected at 1 p.m. ET Friday.
The rapid rise in oil prices defies many analysts' expectations, but it has been driven in part by comments from OPEC members and other producers about a meeting in late September that could involve discussions on freezing production or other actions.
Brent crude traded at $50.69 a barrel on Friday, down 0.39 percent, while U.S. crude traded at $48.36 a barrel, up 0.29 percent.
—CNBC's Patti Domm contributed to this report