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US futures point to higher open ahead of Yellen

Traders work on the floor of the New York Stock Exchange.
Brendan McDermid | Reuters
Traders work on the floor of the New York Stock Exchange.

U.S. stock index futures indicated a higher open on Friday as traders anticipated Fed Chair Janet Yellen's speech in Jackson Hole, Wyoming.

Yellen is set to speak at the Federal Reserve Bank of Kansas City Economic Symposium at 10 a.m. ET, and traders will be watching as to whether she gives any indications on rate hikes.

On the data front, the second read on second-quarter GDP showed growth of 1.1 percent.

In oil markets, Brent crude traded at $49.56 a barrel, down 0.2 percent, while U.S. crude was around $47.31 a barrel, down 0.04 percent.

In Europe, the pan European Stoxx 600 Index was down 0.1 percent on Friday. In Asia, Japan's Nikkei closed 1.18 percent lower on Friday, while in China the Shanghai Composite closed near flat, 0.07 percent higher.