Futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 stock indexes are up from 0.2 to 0.4 percent, pointing to a higher start when the U.S. markets open on Friday.

European shares were 1.2 percent higher on Friday morning, with commodity shares getting support from higher crude and metals prices and financials also advancing.

Tiffany & Co is reporting second-quarter numbers, with analysts expecting earnings per share of 0.34 cents, down from 0.63 cents a year earlier.

At 8:30 a.m. EDT the Commerce Department releases U.S. Personal Income/Spending data for July. Economists in a Reuters survey expected an increase of 0.2 percent for both income and spending. In June, income fell 1.3 percent and spending rose 0.4 percent.

The Reuters/University of Michigan Surveys of Consumers releases final August consumer sentiment index at 9:55 a.m. EDT. Economists in a Reuters survey expected a reading of 64.5, compared with 66.0 in the final July report.

Shares of Solera Holdings gained 2.2 percent to $27.27 after the closing bell on Thursday after the company reported fourth-quarter results.

Shares of Dollar Financial Corp rose 3.8 percent after the bell on Thursday after the company posted results.

Shares of J Crew rose 3.5 percent to $33.90 after the closing bell on Thursday after the retailer released second-quarter results.

AIG CEO Robert Benmosche said he wouldn't rush to sell units in an effort to repay the government. Instead, he'll wait until he can get a fair price, the Wall Street Journal said.

U.S. stocks closed higher on Thursday as investors turned back an early sell-off, thanks to a rebound in oil prices.

The Dow Jones industrial average <.DJI> gained 0.4 percent, the Standard & Poor's 500 Index <.SPX> added 0.3 percent, and the Nasdaq Composite Index <.IXIC> rose 0.2 percent.

(Reporting by Joanne Frearson, editing by Will Waterman)