After Thursday's rout, value-buying could help stanch the bleeding among U.S. stocks while investors will keep an eye on earnings announcements from major Wall Street banks, and data on the Producer Price Index, or PPI, and consumer sentiment.
Futures on the Dow Jones Industrial Average were down 0.03 percent while futures on the S&P 500 were up 0.01 percent and those on the Nasdaq were down 0.1 percent. On Thursday, the Dow lost 1.62 percent and the S&P 500 tumbled 2.09 percent while the Nasdaq crashed 3.1 percent.
On the earnings calendar, JPMorgan Chase & Co. (NYSE:JPM) and Wells Fargo & Co (NYSE:WFC) are among those scheduled to announce earnings before markets open. On the data front, PPI numbers for March are scheduled to be released at 8:30 a.m. EDT while the Thomson Reuters-University of Michigan consumer sentiment index for April is due at 9:55 a.m.
In Europe, markets were steeply down with the Stoxx Europe 600 index falling 1.42 percent while the FTSE 100 was down 1.29 percent. Germany’s DAX-30 fell 1.46 percent while France's CAC-40 was down 1.24 percent.
In Asia, Japan's Nikkei-225 fell 2.38 percent while Australia’s S&P/ASX 200 was down 0.95 percent. Hong Kong’s Hang Seng fell 0.79 percent and the Shanghai Composite was down 0.18 percent. South Korea’s Kospi was down 0.56 percent while India's BSE Sensex was down 0.38 percent.