U.S. stock index futures were subdued on Friday as investors awaited a fresh inflation data next week after recent economic data stoked worries interest rates could remain higher for longer.

Investor sentiment took a hit as stronger-than-expected services activity data and a drop in weekly jobless claims pushed the S&P 500 down by 1.4% and the Nasdaq by 2% during this week.

The Consumer Price Index report for August is set to be released on September 13, with the Federal Reserve’s policy decision slated for September 20.

Mark Haefele, the Chief Investment Officer at UBS Global Wealth Management, mentioned, “Although we anticipate no additional rate hikes in this cycle as our base case, we anticipate economic uncertainty to contribute to ongoing volatility and a confined trading range in equity markets over the upcoming months.”

According to the CME FedWatch Tool, traders are currently assigning a 93% probability that interest rates will remain unchanged in September, and there is a 55.4% likelihood of a pause in rate hikes during the November meeting.

Shares of Apple (NASDAQ:AAPL) were flat in premarket trading after a two-day selloff following news that Beijing had ordered central government employees to stop using iPhones at workplaces in recent weeks.

A separate report published on Friday indicated that China was broadening iPhone restrictions to include local governments and state-owned enterprises.

Wall Street analysts anticipate a minor impact on Apple’s revenue for this year due to the restrictions. Morgan Stanley suggests that the most severe outcome could result in a 4% decline.

As of 7:07 a.m. ET, Dow e-minis had declined by 30 points, equivalent to a 0.09% drop, S&P 500 e-minis were down by 4.25 points, representing a 0.1% decrease, and Nasdaq 100 e-minis had slipped by 22 points, indicating a 0.14% decline.

Investors also digested mixed commentary from several Fed speakers on Thursday.

New York Fed President John Williams remained non-committal regarding future interest rate policy, while Dallas Fed President Lorie Logan suggested that although it “might be suitable” to skip a rate hike in the upcoming meeting, there could be a necessity for additional policy tightening.

San Francisco Federal Reserve Bank President Mary Daly is due to speak later in the day.

Before the market opened, shares of Faraday Future Intelligent Electric experienced a 9.0% increase in value. The electric vehicle manufacturer revealed that there were efforts to disseminate misleading information about the company and influence market sentiment.

Adobe (NASDAQ:ADBE) rose 1.8% after Mizuho upgraded the software firm to “buy” from “neutral”.

DocuSign (NASDAQ:DOCU) added 3.1% as the e-Signature product provider beat second-quarter results estimates and raised its annual revenue forecast.

GameStop (NYSE: GME) experienced a 2.3% decline following reports of an investigation by the U.S. Securities and Exchange Commission into the chairman of the video game retailer, Ryan Cohen.