Freeney has a sprained right ankle. Powers missed Sunday's AFC championship game with an injured left foot.
But the Colts remain hopeful both will play against New Orleans.
The only other player who missed Friday's practice was running back Donald Brown. He's listed as questionable with a foot injury.
Safeties Antoine Bethea (back) and Melvin Bullitt (knee), receiver Austin Collie (foot) and backup tight end Jacob Tamme (ankle) were all limited in practice. Brown and Bullitt were both listed as questionable. Bethea, Collie and Tamme are probable.