US Markets

Street digests Fed minutes, gears up for earnings

Traders work on the floor of the New York Stock Exchange.
Brendan McDermid | Reuters

U.S. stock index futures indicated a slightly higher open on Friday, with traders set to continue digesting Thursday's release of the minutes from the U.S. Federal Reserve's September meeting and looking to next week, when earnings season will begin in earnest.

The Fed minutes indicated policymakers were concerned about reaching their inflation target of 2 percent as well as the impact of the global economic slowdown. The minutes said policymakers don't expect to reach their inflation goal before the end of 2018.

New York Fed President William Dudley is due to speak to CNBC today at 11:00 a.m. ET. Separately, the Atlanta Fed's Dennis Lockhart and the Chicago Fed's Charles Evans are also scheduled to speak.

On the data front, import prices fell 0.1 percent in September, less than the expected 0.5 percent drop. However, export prices fell 0.7 percent, more than the 0.2 percent forecast by economists.

Treasury yields initially spiked before coming slightly off highs, with the 10-year at 2.12 percent and the 2-year at 0.64 percent as of 9:22 a.m.

The U.S. dollar traded lower against major world currencies, with the euro at $1.135 and the yen at 120.28 yen against the greenback.

Wholesale trade data is due at 10:00 a.m.

In oil markets, Brent crude traded about 1 percent higher near $53.60 a barrel and U.S. crude was up more than 1 percent, trying to hold above $50 a barrel.

In Europe, the pan-European Stoxx 600 index traded about 0.8 percent higher Friday morning. In Asia, Japan's Nikkei finished 1.6 percent higher while the Shanghai Composite closed 1.3 percent higher.

No significant earnings are expected today.

—CNBC's Evelyn Cheng and Reuters contributed to this report.