U.S. Treasury yields on Friday gave back some gains made in the previous trading session, when President-elect Joe Biden announced the details of his $1.9 trillion economic stimulus plan.The yield on the benchmark 10-year Treasury note dipped to 1.112% at 4 a.m. ET, while the yield on the 30-year Treasury bond fell to 1.851%. Yields move inversely to prices.Treasury yields retreated as a resurgence in cases of the coronavirus in China dampened hopes of global economic recovery.Meanwhile, Labor Department data released Thursday showed first-time unemployment insurance claims in the U.S. surged to 965,000 last week. This was more than Wall Street estimates of 800,000 claims, signaling a further slowdown in the U.S. jobs market due to pandemic public health restrictions.Federal Reserve Chairman Jerome Powell said on Thursday that the central bank would not be raising interest rates anytime soon.On Thursday evening, Biden outlined the details of his proposed government spending plan, named the American Rescue Plan. It includes extending federal unemployment payments through September and direct payments to many struggling Americans of $1,400.December U.S. retail sales data is due out at 8:30 a.m. ET on Friday, along with a January update from the New York Empire State manufacturing index and last month’s producer prices index figures.U.S. industrial production data for December is expected to be released at 9:15 a.m. ET.Business inventory figures for November will be published at 10 a.m. ET, in addition to consumer sentiment, monthly inflation expectations and 5-year inflation expectation figures from the University of Michigan.There are no auctions due on Friday.