U.S. stock index futures were slightly higher on Friday, a day after Wall Street fell sharply, as investors awaited a slew of economic data, including on consumer spending, a key indicator for U.S. economy.
The S&P 500 and the Dow industrials slipped to their worst daily percentage drop in about six weeks on Thursday as a recent decline in technology shares deepened and outweighed strength in bank shares.
Tech stocks, which have led the S&P 500's 8-percent gain this year, pulled back recently as some investors questioned the sector's high valuations.
With the second quarter at an end, the market has witnessed a few volatile days. On Wednesday, the tech-heavy Nasdaq posted its best day since Nov. 7.
Crude oil futures on Friday were on track for their biggest weekly gain since mid-May, ending five weeks of losses with prices underpinned by a decline in U.S. output. [O/R]The euro came off yearly highs on Friday but was still set for its strongest quarter in six years as investors piled into the currency on a brightening euro zone economy and its implications for monetary policy in the bloc.
The U.S. Commerce Department is likely to show a 0.3 percent rise in personal income, while consumer spending for May is estimated to have increased at a slower pace of 0.1 percent, after a 0.4 percent jump in April. The data is due at 8:30 a.m. ET (1230 GMT)
The final reading of University Of Michigan Surveys Of Consumers Sentiment for June is due at 10:00 a.m. ET (1400 GMT)
Nike shares (NKE.N) were up 6 percent after the world's largest footwear maker said on Thursday it would launch a pilot program with Amazon.com Inc (AMZN.O) to sell a limited product assortment on its website.
Shares of Cara Therapeutics Inc (CARA.O) plunged 29 percent after the biotech reported disappointing pain treatment data from a key study.