U.S. stocks on Friday were on track to rise at the open, bolstered by J.P. Morgan's better-than-expected earnings, but they still held the potential to end lower for the week.
Earnings for three big U.S. banks are hitting ahead of the bell, along with a reading on retail sales. A midday speech by Federal Reserve chief Janet Yellen also will get attention.
S&P 500 futures rose 10.20 points, or 0.5%, to 2,136.50, while Dow Jones Industrial Average futures tacked on 91 points, or 0.5%, to 18,112. Nasdaq-100 futures gained 21.25 points, or 0.4%, to 4,817.25
On Thursday, the S&P 500 and Dow both closed 0.3% lower after paring bigger intraday losses, as analysts blamed the selling on worries about the Federal Reserve's latest meeting minutes and weak Chinese economic data. The S&P 500 is on track for a weekly drop of 1% as of Thursday's close, while the Dow is off 0.8%.
Other markets: Oil futures traded higher Friday following encouraging inventory data, helping sentiment. European stocks shot up, while Asian markets mostly closed with gains. Gold futures pulled back, and a key dollar index advanced.
Economic news: A September report on retail sales is slated to hit at 8:30 a.m. Eastern Time, with economists polled by MarketWatch forecasting growth of 0.7%.
At that same time, a reading on producer prices is due to arrive, and economists expect a gain of 0.2% for last month.
At 10 a.m., investors will digest a report on consumer sentiment, with an October reading of 91.7 expected. Figures for August business inventories are also due at 10 a.m.
On the Fed front, Boston Fed President Eric Rosengren is due to make opening remarks at 8:30 a.m. Eastern at a Boston Fed conference on the "elusive" great recovery.
Yellen's speech at that same conference will cover "macroeconomic research after the crisis," and it's slated to be delivered at 12:30 p.m. Eastern.