OTCDD

[Foxlette]

NEW YORK (CBS.MW) -- U.S. stocks looked to rebound Friday, though the upside in the futures markets was not deep in the absence of a catalyst to trigger buying interest.

June S&P 500 futures advanced 5.40 points, or 0.5 percent, and were trading around 6.40 points above fair value, according to HL Camp & Co. numbers. And Nasdaq futures put on 8.50 points, or 0.7 percent, and were trading 9.00 points ahead of fair value.

Government bonds fumbled after two days of gains ahead of the morning's dose of data.

Friday's lineup includes the Chicago Purchasing Mangers Index for May, the revision to first-quarter productivity, April factory orders, and the final reading of the University of Michigan's consumer sentiment index.

The 10-year Treasury note shed 2/32 to yield (CBOE: ^TNX - news) 5.03 percent while the 30-year government bond eased 2/32 to yield (CBOE: ^TYX - news) 5.60 percent.

In the currency sector, the dollar regained its composure against the yen but continued to waver versus the euro. The yen's weakness derived from a third Bank of Japan intervention in two weeks to buy dollars.

In recent dealings, the greenback rallied 0.6 percent to 123.97 yen while the euro edged up 0.1 percent to 93.78 cents.