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US retail sales rebounded 0.6%. in September, matching estimates

U.S. shoppers upped their spending in September, with sharp increases in sales at auto dealers, restaurants and gas stations.

The Commerce Department says retail sales rose 0.6 percent in September, a rebound after sales slipped 0.2 percent in August. During the first nine months of the year, retail sales have increased 2.9 percent compared with 2015.

Stabilizing oil prices meant that sales rose 2.4 percent at gas stations last month. Spending at restaurants improved 0.8 percent, while auto dealers, building materials stores and furnishers notched monthly gains of 1 percent or more.

U.S. producer prices increase broadly in September

U.S. producer prices rose more than expected in September as the cost of energy products and a range of other goods increased, supporting views that domestic inflation will start trending higher.

The Labor Department said on Friday its producer price index for final demand increased 0.3 percent after being unchanged in August. In the 12 months through September, the PPI jumped 0.7 percent, the biggest increase since December 2014.The PPI was flat in the 12 months through August.

Consumer sentiment hits 87.9 in October vs. 92 estimate

The Index of Consumer Sentiment hit 87.9 in October, according to the University of Michigan on Friday, hitting its lowest since Sept. 2015. Economists expected the index to hit 92 in October, up from 89.8 in September's final reading, according to Thomson Reuters consensus estimates.

The report said it is likely the uncertainty around the upcoming presidential election negatively influenced consumers, especially those with lower income.

Yellen: Fed might want to run a 'high-pressure economy'

In a further indication that the Federal Reserve will be inclined to let inflation run hot for a while, Chair Janet Yellen on Friday said it's useful to consider the benefits of a "high-pressure economy."

Normal times call for the U.S. central bank to stand vigilant watch over price pressures. However, Yellen said the post-financial crisis period has pushed policymakers into reconsidering the dynamics of inflation.

Fed's Rosengren signals December rate hike seems 'appropriate'

Boston Federal Reserve President Eric Rosengren told CNBC on Friday the economy was close to hitting full employment and close to the Fed's 2 percent inflation target, so interest rates should rise "slowly and gradually."

"We tended to move around the time that the chair has a press conference. So the next press conference meeting is in December. There's a much higher probability in December," he said on "Squawk Box."

Fed's Dudley says 'I would expect this year' for next rate hike: DJ

New York Fed President William Dudley said Friday that a rate rise is getting closer and could come as soon as this year, according to Dow Jones.

"I think if the economy continues to evolve along the path we expect, I'd expect we'll be raising interest rates relatively soon," Dudley said in an interview with The Wall Street Journal.

He also said "I would expect this year" action will happen when it comes to increasing the 0.25 percent to 0.50 percent central bank overnight target rate range, the news wire said. He declined to specify whether the increase would come in November or December.

Oil dips on dollar, rig count rise; focus still on OPEC

Oil prices fell slightly on Friday as traders balanced a stronger dollar and another increase in the U.S. oil rig count against expectations that more OPEC talk of output cuts will keep crude above $50 per barrel.

A closely watched report by oil services provider Baker Hughes, meanwhile, showed U.S. drillers added four rigs in the week to Oct. 14. It was the 16th week in a row that oil drillers had gone without making cuts, indicating more production to come. [RIG/U]

U.S. West Texas Intermediate (WTI) crude ended down 9 cents at $50.35. It rose about 1 percent on the week.