U.S. data out on Friday could provide further insight into whether the country is ready for an interest rate hike from the U.S. Federal Reserve.
The Producer Price Index increased 0.5 percent for May, topping expectations for 0.4 percent. The gain was the largest since May 2012. The ex-food and energy read was 0.1 percent.
Later in the morning the Michigan consumer sentiment figure for this month is expected.
"Continued income gains and better labor markets suggest consumer fundamental remain solid, yet we expect sentiment to have slipped a bit in early June," said analysts Nikolaos Sgouropoulos and Siddhartha Sanyal in a Barclays Research note on Friday.
Read MorePPI and consumer sentiment could get overshadowed
However, continued volatility in the bond market could move stocks more than the data. The U.S. 10-year Treasury yield traded near 2.39 percent on Friday, down from 2.5 percent hit on Thursday for the first time since Oct. 1. The 10-year German bund yield had its largest drop in two years.
In individual stock news,Twitter rallied more than 3.5 percent in pre-market trade Friday on the announcement that CEO Dick Costolo would step down next month. The gains followed a 9 percent spike in the stock in U.S. extended trading and calls by investors for a shakeup following a sluggish run for Twitter stock as the tech company struggles to grow revenue and expand its user base.
Read MoreEarly movers: TWTR, BOJA, URBN, WSM, GOOG & more
No corporate earnings of note are expected Friday.
—By CNBC's Katy Barnato, follow her on Twitter @KatyBarnato.
Correction: This story has been updated to reflect that CarMax and KBHome report earnings next Friday, June 19, not Friday, June 12.