U.S. stock index futures signaled losses on Friday as investors awaited consumer sentiment and retail sales data to get a better reading on the economy.

The Labor Department is scheduled to release the July Consumer Price Index at 8:30 a.m. Economists in a Reuters survey expected an 0.2 percent increase, compared with an 0.1 percent decrease in June.

July retail sales data will be released at the same time. Economists look for an 0.5 percent rise, compared with an 0.5 percent drop in June.

Retailer J.C. Penney Co Inc is scheduled to report second-quarter results later in the morning.

At 9:55 a.m. EDT, Thomson Reuters/University of Michigan Surveys of Consumers reports the preliminary August consumer sentiment index. Economists forecast a reading of 69.3, compared with 67.8 in the final July report.

S&P 500 futures edged down 3.3 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures dipped 12 points, and Nasdaq 100 futures fell 6.25 points.

Futures gave up initial gains spurred by data showing better-than-expected gross domestic product growth in Germany and France.

India may shut down Google Inc and Skype Internet-based messaging services over security concerns, the Financial Times reported, as the government threatened a similar crackdown on Research in Motion Ltd's BlackBerry services.

Shares of Telestone Technologies Corp fell 12 percent, while Nvidia Corp jumped 6 percent in extended trade on Thursday. Telestone, a developer of telecommunications network technology, said quarterly profit fell 15 percent, while chipmaker Nvidia reported a quarterly loss.

U.S. stocks ended down for a third straight day on Thursday, setting the stage for the biggest weekly decline in six weeks, as an unexpected rise in jobless claims and a sobering revenue outlook from Cisco Systems Inc underscored the hurdles to economic recovery.

(Reporting by Angela Moon; editing by Jeffrey Benkoe)