By Victor Reklaitis and Mark DeCambre, MarketWatch

Nasdaq on track to snap weekly win streak

U.S. stock futures on Friday were little changed in anticipation of a hotly awaited talk by Federal Reserve chief, Janet Yellen, in Jackson Hole, Wyo., later this morning.

Ahead of the speech, a second estimate of second-quarter gross domestic product underscored that the U.S. economy is still muddling along, growing at a lackluster 1.1% pace--slower than preliminary reading of 1.2% (http://www.marketwatch.com/story/second-quarter-gdp-rises-just-12-well-below-forecast-2016-07-29) as corporate profits fell.

"Stocks barely budged after the GDP reading. "There wasn't anything really surprising in the GDP data today and certainly not enough to move the markets ahead of Yellen," said Colin Cieszynski, chief market strategist at CMC Markets.

Stock-market futures were flirting with positive territory, but primarily were trading near break-even levels as investors waiting for Yellen.

The Dow Jones Industrial Average futures were flat at 18,450, while S&P 500 futures held steady at 2,173.75, tilting in the green. Nasdaq-100 futures slipped 1.75 points, or less than 0.1%, lower to 4,780.

Yellen is scheduled to begin speaking in the Rocky Mountains at 10 a.m. Eastern Time, when some market participants believe that she may signal the U.S. central bank is ready to raise interest rates in late September. Some analysts are sounding downbeat ahead of her address.

"Today's Jackson Hole gathering could be quite critical, with expectations heightened over if Yellen will provide clarity on when the Fed may break the trend of central bank caution," said Lukman Otunuga, an analyst at FXTM, in a note.

"If there is a further disconnect between markets and the Fed then jitter and risk aversion could leave stocks vulnerable to heavy losses," he added.

Cieszynski concurred on the notion that stocks could be volatile. "This really does feel like the calm before the storm and we could see a lot of pent up demand for action burst open once she starts talking."

Meanwhile, Cleveland Fed President Loretta Mester on Friday on CNBC echoed the recent hawkish sentiments of other Fed members, saying "it makes sense" to start moving interest rates higher.

Read more:Yellen to say 'ready' for another rate hike in Jackson Hole (http://www.marketwatch.com/story/yellen-to-say-ready-for-another-rate-hike-in-jackson-hole-2016-08-19)

And see:Fed might hike interest rates despite market objections (http://www.marketwatch.com/story/fed-going-out-to-jackson-hole-to-get-divorce-from-markets-2016-08-23)

On Thursday, the S&P 500 index closed 0.1% lower, while the Dow shed 0.2%, and the Nasdaq Composite Index was down 5.49 points, or 0.1%, to 5,212.20, as investors seemed reluctant to make big bets (http://www.marketwatch.com/story/wall-street-set-for-losses-as-yellen-speech-draws-closer-2016-08-25) on the eve of the Fed chairwoman's speech. The S&P is down 0.5% for the week, as of Thursday's close, and the Dow is 0.6% lower. The tech-heavy Nasdaq is on track to snap an eight week win streak, down 0.5% on the week.

Individual movers: Shares in Herbalife Ltd.(HLF) could make moves following news that billionaire investor Carl Icahn has recently discussed selling his stake (http://www.marketwatch.com/story/carl-icahn-considered-selling-herbalife-stake-to-arch-nemesis-bill-ackman-2016-08-26) in the nutritional-products company to a group including Herbalife's arch-nemesis Bill Ackman.

Anheuser-Busch InBev NV(ABI.BT)(ABI.BT) warned Friday its beer megamerger with SABMiller PLC(SAB.JO) could lead to thousands of job losses (http://www.marketwatch.com/story/ab-inbev-warns-3-to-be-laid-off-in-merger-2016-08-26) in the coming years. The Budweiser producer's U.S. listed shares rose 0.9% in premarket action.

Software company (http://www.marketwatch.com/story/splunk-beats-expectations-and-raises-forecast-but-stock-still-slumps-2016-08-25)Splunk Inc.(SPLK), beauty products seller (http://www.marketwatch.com/story/ulta-shares-weaken-as-outlook-offsets-earnings-beat-2016-08-25)Ulta Salon Cosmetics & Fragrance Inc.(ULTA) and videogame retailer (http://www.marketwatch.com/story/gamestop-shares-slide-after-revenue-falls-short-of-street-view-2016-08-25)GameStop Corp.(GME) all look on track for down days after each company's stock suffered an earnings-driven drop late Thursday.

Other markets: Oil futures (SPLK) traded lower, hurting sentiment. European stocks largely edged down, while Asia closed mixed. Gold futures climbed higher, and a key dollar index retreated 0.2%.

Other economic reports: Also at that time, a July report on advance trade in goods is due, with forecasts calling for a deficit of $62.5 billion.

Meanwhile, the trade gap narrowed (http://www.marketwatch.com/story/us-trade-gap-narrows-in-july-advance-report-shows-2016-08-26)to a seasonally adjusted $59.3 billion in July from $64.5 billion in June, the Commerce Department said Friday.

At 10 a.m. Eastern as Yellen speaks, an August figure for a consumer-sentiment gauge is expected to come in at 91.0.

(https://twitter.com/auaurelija/status/769056232275574785)

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(END) Dow Jones Newswires

August 26, 2016 09:04 ET (13:04 GMT)