Economic Data Scheduled For Friday

• Data on personal income and outlays for December will be released at 8:30 a.m. ET. Personal income is projected to rise 0.5% in December with personal consumption expenditures likely to decline 0.5%.
• The employment cost index for the fourth quarter is scheduled for release at 8:30 a.m. ET. After better-than-expected 1.3% quarterly increase in the third quarter, analysts expect employment costs increasing further by 1.2% in the fourth quarter.

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• The University of Michigan's consumer sentiment index for January will be released at 10:00 a.m. ET. Consumer sentiment dropped by 1.8 points in the preliminary reading to 68.8 in January. The month's final reading is seen holding at the same level.
• The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.

Check out the full economic calendar here