Before the bell: Futures decline following Bernanke's remarks

Late Thursday, Bernanke sent a fresh signal that he's in no rush to reverse course and start boosting interest rates. This is in contrast to Australia, whose central bank raised rates this week, offering hope the recovery has gained momentum. But in the U.S., where the Fed's key bank lending rate is now at a record low near zero, Bernanke said it will probably stay there for an "extended period." This gave more teeth to Bernanke's earlier remarks that the recovery won't be robust enough to prevent the unemployment rate from rising.
Overseas, Chinese stocks rallied Friday as they had some catch up to do after a holiday and as the dollar rose. European markets were mostly unchanged.

Also, the International Energy Agency said Friday faster economic growth next year, particularly in the developing world, will drive oil demand higher than previously expected. Despite that, oil prices fell to near $71 a barrel Friday, giving up part of the previous day's big gains, as the U.S. dollar rebounded.

Of note is the surprising move by the Norwegian Nobel Committee, which has decided to award the Nobel Peace Prize for 2009 is to be awarded to United States President Barack Obama "for his extraordinary efforts to strengthen international diplomacy and cooperation between peoples. The Committee has attached special importance to Obama's vision of and work for a world without nuclear weapons."