As investors anticipate the Fed's preferred inflation measure, Treasury yields exhibit a mixed performance.

On Friday, the U.S. 10-year Treasury was undecided, with investors anxiously anticipating crucial inflation information.

The 10-year Treasury yield remained relatively stable at 3.865%, while the 2-year Treasury yield increased by almost 1 basis point to 3.902%.

Prices and yields move in opposite directions, with one basis point equal to 0.01%.

On Friday, the U.S. personal consumption expenditures (PCE) price index will be closely monitored by market participants.

The Federal Reserve's preferred inflation measure will be released at 8:30 a.m. ET, along with the latest personal income and consumer spending data.

The Chicago Purchasing Managers' Index data for August and the final reading of consumer sentiment data for August will be released later in the session.

The PCE reading, which provides insight into consumer spending on various goods and services, could provide more information on the future of interest rates.

The release of economic data on Thursday alleviated recession concerns, as weekly jobless claims decreased and the second-quarter GDP growth rate was revised upward to 3% from an initial 2.8%.

Last week, Fed Chair Jerome Powell stated that "it is time for policy adjustments," increasing anticipations for a rate reduction at the central bank's upcoming meeting. Despite this, Powell did not provide specific details on the timing or magnitude of the cut.

The Fed's Sept. 18 meeting has been fully priced in by market participants, with traders currently assigning a roughly 67% chance of a 25-basis-point rate cut next month and a 33% chance of a 50-basis-point rate cut, according to the CME Group's FedWatch Tool.

— CNBC's Jeff Cox contributed to this report.