U.S. stock markets were tipped to open mixed on Friday, giving up some of the previous day's gains ahead of inflation data that could offer clues on the timing of a U.S. rate rise.
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Besides data, investors eyed Germany's parliament, which voted in favor of authorizing its finance ministry to negotiate a third bailout with Greece.
The European Central Bank, meanwhile, said on Thursday it would increase emergency liquidity to Greek banks, which will reopen on Monday after being closed for three weeks.
Futures held steady after the June consumer price index (CPI) showed a fifth-straight month of increase with a rise of 0.3 percent, in-line with estimates. Stripping out food and energy costs, the core CPI rose 0.2 percent after rising 0.1 percent in May.
Housing starts rebounded strongly in June, up 9.8 percent, and building permits surged to a near eight-year high.
Treasury yields rose after the data releases, with the 10-year yield briefly at 2.37 percent and the 2-year yield at 0.68 percent.
The dollar turned higher to hit a session high against major world currencies, while the euro held near $1.08.
Later in the morning at 10:00 the June consumer sentiment index is due.
Read MoreTraders watch for whiff of inflation
The data come a day after Federal Reserve Chair Janet Yellen reiterated that U.S. interest rates are likely to rise this year depending on economic conditions.
The Fed has kept interest rates at a record low near zero since the global financial crisis and speculation about a rate hike has helped boost the dollar this year.
Wall Street shares closed higher on Thursday, with the Nasdaq Composite closing at a record high on the back of upbeat earnings news.
In the U.S., earnings are in focus. Google, which reported earnings after Thursday's market close, posted quarterly profits that topped analyst expectations. The stock jumped 11 percent in after-hours trade.
Elsewhere, European shares gave up early gains to trade flat to slightly lower amid developments in the Greek debt negotiations. In Asia, stock markets closed mostly higher thanks to the positive lead from Wall Street overnight.