By Barbara Kollmeyer, MarketWatch

China stocks log a weekly loss of 8%

Wall Street was bracing for another wild ride in stocks Friday with stock-index futures pointing to a lower open after one of the most tumultuous weeks of trading in recent memory.

Investors will look to take their cues from Federal Reserve officials, who are attending the closely watched Jackson Hole summit.

While the previous session marked a second day of gains for stocks, futures for the Dow Jones Industrial Average fell 134 points, or 0.8%, to 16,515, while those for the S&P 500 index were down 16 points, or 0.8%, to 1,973.25. Futures for the Nasdaq Composite lost 35.25 points, or 0.8%, to 4,293.50.

Stocks were set to finish the week moderately higher, with the Nasdaq Composite poised for a gain of over 2%. But a volatile week for stocks pushed the Dow industrials and S&P 500 index into negative territory for the year.

Opinion: A surefire strategy to keep calm and make some money in this crazy market (http://www.marketwatch.com/story/a-surefire-strategy-to-keep-calm-and-make-money-in-this-crazy-market-2015-08-27)

On Thursday (http://www.marketwatch.com/story/us-stocks-get-set-to-rally-again-as-china-revives-2015-08-27), the S&P 500 index finished up 2.4%. The Dow industrials and Nasdaq Composite added 2.3% and 2.5%, respectively. The moves came as investors took comfort from signs China was trying to stabilize its economy and market, and from upbeat U.S. growth data.

Investors also will be keeping a close eye on crude prices Friday. WTI crude for October swung between losses and gains after surging more than 10% on Thursday, driven higher by a report that Venezuela asked the Organization of the Petroleum Exporting Countries to hold an emergency meeting.

Jackson Hole summit: Another potential reason for investor caution is the Jackson Hole central bankers' summit in Wyoming this weekend, where key Federal Reserve speakers are due to appear: Fed Vice Chairman Stanley Fischer will talk about inflation developments on Saturday, with Atlanta Fed President Dennis Lockhart and St. Louis Fed President James Bullard to follow later. Here's a schedule of the speakers (http://www.marketwatch.com/story/fischer-carney-to-headline-jackson-hole-summit-2015-08-27).

(http://www.marketwatch.com/story/fischer-carney-to-headline-jackson-hole-summit-2015-08-27)Read: Central bankers at Jackson Hole search for answers on low inflation (http://www.marketwatch.com/story/central-bankers-at-jackson-hole-search-for-answers-on-low-inflation-2015-08-27)

The meeting comes after days of financial-market turmoil have driven some investors to shift their expectations for a U.S. interest-rate hike to December from September.

Opinion: Stocks climbing strongest 'wall of worry' in five years (http://www.marketwatch.com/story/stocks-climbing-strongest-wall-of-worry-in-five-years-2015-08-28)

Economic data: Readings on personal income, consumer spending and core inflation for July are due at 8:30 a.m. Eastern Time. At 10 a.m. Eastern, the consumer sentiment report for August is scheduled.

Stocks to watch: Share of Freeport-McMoRan Inc. (FCX) rose 13%, adding to a late-session surge after billionaire investor Carl Icahn disclosed a stake in the miner (http://www.marketwatch.com/story/carl-icahn-discloses-stake-in-freeport-mcmoran-may-seek-board-seat-2015-08-27), saying the company's shares are undervalued, according to a filing.

Shares of Amgen Inc. (AMGN) rose 0.8% after the biotech company said the Food and Drug Administration (http://www.marketwatch.com/story/amgen-gets-fda-approval-for-new-cholesterol-treatment-2015-08-27) has approved its new cholesterol treatment.

Apple Inc. (AAPL) could grab some attention. The company has lost a key executive for its streaming music service, Beats 1, the Financial Times reported on Friday, citing sources. Ian Rogers, the executive who headed up development of Beats 1, has stepped down after two months, the newspaper reported.

Chinese gains tempered:The Shanghai Composite Index (http://www.marketwatch.com/story/asian-markets-ride-tide-of-strong-us-growth-2015-08-28), which has been heavily influential at times for global equities this week, finished up 5.4%. Analysts voiced suspicions on Friday the government was buying stocks to boost the index, which ended a roller-coaster week down 8%.

European stocks (http://www.marketwatch.com/story/europe-stocks-pull-back-as-volatile-week-nears-an-end-2015-08-28) wavered on Friday, with the Stoxx Europe 600 index down 0.4% and set for a small loss to end the week. Gold prices rose marginally, while the dollar held largely steady.

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(END) Dow Jones Newswires

August 28, 2015 07:33 ET (11:33 GMT)