Wall Street to focus on industry data

Wall Street looked set to kick the new year off on a high, with U.S. stock index futures pointing to an upbeat start to the trading session.

The big economic data out on Friday are the monthly ISM index, which tracks manufacturing and service sector activity. Construction spending data will be out at the same time, 10 a.m. ET.

No major earnings are due.

The Dow Jones Industrial Average index posted a 7.5 percent gain for 2014, with the S&P 500and Nasdaq Composite ending up more than 11 percent on the year.

Brent crude oil prices slipped back towards $57 per barrel on Friday, after an early rise above $58.

Official data out of China this week showed its industrial growth continued to slow in December, weighing on Asian stock indexes.

European stocks were also lower, after Markit's manufacturing Purchasing Managers' Index (PMI) for the euro zone came in at 50.6, showing industrial growth in the single currency union remained "near stagnant" in December.

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