By Ambar Warrick

(Reuters) – U.S. stock index futures fell on Friday, as steady Treasury yields after strong economic data this week pointed toward more movement out of heavyweight technology stocks.

FAANG stocks including Alphabet and Apple Inc (NASDAQ) Inc fell in premarket trade.

The benchmark 10-year note yields held at levels reached yesterday after unexpectedly high retail sales figures.

Now, investors are focusing their attention on next week’s Federal Reserve meeting. Investors will debate whether strong economic data from this week might prompt the bank to shorten its timeline for decreasing monetary stimulation.

Losses in major technology stocks had pulled the lower on Thursday, after a jump in bond yields saw investors pivot into sectors most likely to benefit from an economic recovery this year.

Data showing steady factory activity coupled with a cooling inflation rate, indicating that the U.S. recovery is resilient in spite of a recent spike in Delta COVID-19 cases.

U.S. S&P 500 E-minis were down 13 points, or 0.29%, at 06:29 am ET. Dow E-minis were down 70 points, or 0.2%, while E-minis were down 41.25 points, or 0.27%.

All three indexes had small weekly gains. They were trading at a lower level for the month because of September’s seasonally weaker trends.

Monthly losses to the Nasdaq are the smallest since investors had moved into sectors that were more resilient to the economic disruptions resulting from the pandemic. However, this trade could unravel in the next weeks.

Among other movers, Invesco Ltd rose 7.3% before the bell on reports that the investment management firm was in talks to merge with peer State Street Corp (NYSE:)’s asset-management business.

State Street shares were flat.