U.S. stock index futures pointed to a slightly lower open on Wall Street on Friday, with futures for the S&P 500 down 0.2 percent, Dow Jones futures down 0.2 percent and Nasdaq 100 futures down 0.1 percent at 5:37 a.m. EDT.
Financials in the spotlight after Swiss bank UBS
Pharmas also in focus, after shares of European drugmaker Sanofi-Aventis
Oil rose to $71 a barrel on Friday after Nigerian rebels said they blew up a wellhead on a Royal Dutch Shell
The dollar fell against a basket of currencies on Friday as risk sentiment was supported by higher equities and firmer commodity prices.
European stocks were up 1 percent in early trade, reversing the previous session's losses, led by buoyant banking shares such as HSBC
However, on the macro front investors were digesting grim data from Japan. Consumer prices in Japan fell at a record pace in the year to May, adding to weak signals about the health of the global economy.
Japan ordered Citigroup
The S&P 500 index <.SPX> is likely to see a correction to between 830 and 875 through September, given its virtually uninterrupted rise since its March lows, J.P. Morgan Securities said, and urged investors to use the correction to build positions in cyclical stocks.
The day's economic agenda includes data on personal income and consumer sentiment.
U.S. stocks gained ground on Thursday, with retailers and home builders pacing the gains, bolstered by a surprising profit increase from retailer Bed Bath & Beyond Inc
The Dow Jones industrial average <.DJI> jumped 172.54 points, or 2.08 percent, to 8,472.40, snapping a four-day losing streak. The Standard & Poor's 500 Index <.SPX> gained 19.32 points, or 2.14 percent, to 920.26. The Nasdaq Composite Index <.IXIC> advanced 37.20 points, or 2.08 percent, to 1,829.54.
On the year, the Dow is down 3.5 percent and the S&P is up 1.9 percent.
(Reporting by Blaise Robinson; Editing by Greg Mahlich)