Futures on major U.S. indices point to a higher opening on Friday with futures on the S&P 500 up 0.15 percent, futures on the Dow Jones Industrial Average up 0.11 percent and Nasdaq100 futures up 0.15 percent.

As no major economic data are due to be released on Friday, investors are likely to focus on earnings from Google, General Electric Co. and Bank of America Corp.

GE (NYSE:GE) reported 52 percent growth in its quarterly profit that blew past estimates on growth in Technology Infrastructure and NBC Universal Businesses and lower costs.

Bank of America Corp. (NYSE: BAC) posted a net loss of $1.2 billion, or $0.16 per share, for the fourth quarter, including a goodwill impairment charge of $2.0 billion in the Home Loans and Insurance segment. Excluding the charge, the company said it earned $756 million, or $ 0.04 per share.

Google Inc. (GOOG) reported better-than-expected quarterly earnings on late Thursday. Adjusted profit was $2.9 billion or $8.75 a share, up from $2.2 billion or $6.79 a share last year. Revenue rose 26 percent to $8.4 billion. Excluding traffic acquisition costs, revenue grew about 29 percent to $6.4 billion. Analysts had expected profit of $8.09 a share on revenue of $6.06 billion.

European stock markets advanced and euro strengthen against major counter parts after a report showed that business confidence in Germany unexpectedly climbed to a record in January.

On Thursday, US stocks closed modestly lower, but well above intra-day lows, as the tech sector incurred the heaviest losses on fears of Chinese interest rate hikes.

The euro advanced 0.38 percent to 1.3524 against the dollar and the yen advanced 0.20 percent against the greenback.

Crude oil futures advanced 0.54 percent to $90.07/barrel and gold futures declined 0.23 percent.

European stock markets are currently trading higher with FTSE 100 up by 36.55 points, DAX30 up by 40.55 points and CAC 40 up by 46.94 points.