-- U.S. stock futures edged lower Friday, with renewed concerns about the future path of the Federal Reserve’s interest rates weighing heavily on the tech sector.

By 06:30 ET (10:30 GMT), the contract was down 50 points, or 0.1%, traded 5 points, or 0.1%, lower and dropped 20 points, or 0.1%.

The major Wall Street indices closed mixed Thursday, with the blue-chip ending almost 60 points, or 0.2%, higher, while the tech-heavy dropped 0.9% and the broad-based fell 0.3%.

Tech stocks hit by rising Fed hike expectations 

Stronger-than-expected economic data, including Thursday’s reading for last week that was lower than expected, has raised concerns that Fed will keep interest rates at elevated levels for longer than previously expected.

This has disproportionately impacted the richly valued tech stocks, with the NASDAQ Composite index down over 2% this week, falling for four days straight.

The is still widely expected to hold steady on rates when it meets later this month, but this economic resilience suggests that future hikes are not off the table.

Dallas Federal Reserve Bank President said on Thursday that while "forecasts are inherently uncertain. My base case, though, is that there is work left to do." 

The economic data slate is quiet Friday, with and the reading, both for July, the only figures of note expected.

Apple remains in the spotlight

In the corporate sector, Apple (NASDAQ:) is likely to remain in the spotlight with the world’s most valuable company having seen about $200 billion wiped from its market capitalization in two days on reports of China curbing iPhone use by state employees.

The restrictions point to a potential slowdown in Apple’s iPhone sales, which are the company’s biggest revenue driver. China is also the third-biggest contributor to Apple’s revenue, as of its second-quarter earnings.

Apple is also set to launch its new range of iPhone 15 phones later this month.

Elsewhere, quarterly earnings are due Friday from grocery chain Kroger Company (NYSE:).

Crude set for weekly gains

Oil prices gained on Friday, paring back earlier losses despite lingering concerns over the health of the crucial Chinese economy and a stronger dollar.

The main benchmarks are on course for gains of around 2% this week on the back of the news that top producers Saudi Arabia and Russia have extended their voluntary supply cuts to the end of the year.

Additionally, data released late Thursday showed that U.S. inventories shrank a hefty 6.3 million barrels in the week to September 1, falling for the fourth consecutive week. 

By 06:30 ET, the futures traded 0.5% higher at $87.30 a barrel, while the contract climbed 0.5% to $90.38.

Additionally, rose 0.3% to $1.948.35/oz, while traded just higher at 1.0701.

(Oliver Gray contributed to this item.)