Stock index futures pointed to a mixed open on Wall Street on Friday, with futures for the S&P 500 up 0.2 percent, Dow Jones futures up 0.1 percent and Nasdaq 100 futures down 0.3 percent by 6:00 a.m. ET.
Oil eased to $72 a barrel on Friday, pressured by a firmer dollar, but stronger-than-expected Chinese economic data helped support prices near an eight-month high. The market on Thursday settled at $72.68, the highest since October 20 after a three-day rally, making it look overvalued to some analysts.
The dollar edged up against a basket of currencies on Friday, recovering as traders booked profits from the U.S. currency's slide earlier this week, while investors awaited a G8 finance ministers meet later in the day.
European stocks were down 0.2 percent in morning trade, retreating from Thursday's five-month closing high, with influential commodity-related shares falling along with oil and metal prices.
Japan's Nikkei stock average <.N225> climbed to close above 10,000 on Friday for the first time in eight months as upbeat data from Japan and China fed hopes for global economic recovery, leading to broad-based buying. <.T>
China's May factory output rose more than forecast and retail sales growth accelerated, giving new impetus to investor hopes that the world's third-largest economy can lead a global revival.
The day's economic agenda includes data on May import-export prices at 1230 GMT, as well as Reuters/University of Michigan Surveys of Consumers, which is due to release the June preliminary consumer sentiment index at 1355 GMT.
No S&P 500 companies are scheduled to report results.
U.S. stocks advanced in a broad rally on Thursday, gaining ground along with rising commodity prices and helped by improving labor market conditions.
The Dow Jones industrial average <.DJI> gained 31.90 points, or 0.37 percent, to 8,770.92. The Standard & Poor's 500 Index <.SPX> rose 5.74 points, or 0.61 percent, to 944.89. The Nasdaq Composite Index <.IXIC> added 9.29 points, or 0.50 percent, to 1,862.37.
(Reporting by Blaise Robinson; Editing by Rupert Winchester)