Stocks set for flat open

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When Wall Street nearly collapsed

Would panic prevail? That was the question gripping the world in the days surrounding the fall of Lehman Brothers on Sept. 15, 2008. One year after that terrifying Monday, the people who struggled to cope with the financial crisis share what they were thinking as chaos broke out.

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NEW YORK (CNNMoney.com) -- Stocks appeared set for a flat to slightly higher open Friday, with the Dow, S&P and Nasdaq starting the day at their 2009 highs.

At 9 a.m. ET, Standard & Poor's 500, Nasdaq 100 and Dow Jones industrial average futures were slightly higher, but not far from the breakeven point.

Futures measure current index values against their perceived future performance and offer an indication of how markets may open when trading begins.

Art Hogan, chief market strategist at Jefferies & Co., said the market's hesitation stemmed from light volume that has persisted throughout the week, with precious few market-movers for investors to focus on.

Investors are maintaining a "wait and see" mode, demonstrating "a real lack of conviction in what the next move is going to be," said Hogan.

Stocks surged Thursday, with the major gauges closing at their highest points in nearly a year, as investors focused on a well-received debt auction and Procter & Gamble's improved forecast.

A weaker dollar, rising commodity prices and upward momentum have also supported the market in recent days.

All three of the major indexes have now risen for five consecutive sessions, extending the six-month old advance. Since bottoming March 9 at a 12-year low, the S&P 500 has risen 54% as investors have begun pricing in an economic recovery.

Economy: The Bureau of Labor Statistics released its August data for import prices, showing that prices rose 2% last month. That's twice what analysts expected.

Not including petroleum, prices rose 0.4%, the government said. Export prices edged up 0.7%.

The initial reading on consumer sentiment from the University of Michigan is due shortly after the start of trading. The index is expected to have risen to 67.5 in September from 65.7 in August, according to a consensus of economists surveyed by Briefing.com.

Hogan said investors want to see consumer sentiment continue the upward course it has run throughout the year, and that a disappointment would reflect poorly on the markets.

The Commerce Department is expected to report a drop in wholesale inventories for the 11th straight month when the July report is released in the morning. Stocks at U.S. wholesalers likely fell 1% in July, according to the Briefing.com consensus, after falling 1.7% in June.

The August Treasury budget is slated for release in the afternoon.

World markets: Major indexes in Europe were higher in midday trading. Asian markets ended mixed, with Tokyo's Nikkei index down 0.7%.

Oil: The price of oil slipped 13 cents to $71.81 a barrel.

Currency: The dollar eased against major international currencies, including the euro, the yen and the British pound.

Commemoration: The New York Stock Exchange will mark the 8th anniversary of the terrorist attacks on New York and Washington at the ringing of the opening and closing bells.

Obama's next speech: The White House announced that President Obama will deliver a speech in New York on Monday to mark the first anniversary of Lehman Brothers' collapse. Obama will talk about the "aggressive steps" of his administration to "bring the economy back from the brink," as well as preventative measures to make sure that a collapse doesn't happen again, according to a statement.