U.S. stock index futures indicated a mixed open on Friday as traders digest a 5 percent slump in Chinese stocks and look towards a big week ahead.
In Asia, Chinese stocks tanked after authorities launched probes for alleged violations of trading rules. The Shanghai Composite closed 5.48 percent lower, while the Shenzhen Composite finished 6.1 percent lower. Japan's Nikkei finished 0.30 percent lower.
U.S. markets were closed for Thanksgiving on Thursday, and will shut earlier, at 1:00 p.m. ET, today.
In spite of the gloomy news out of China, the International Monetary Fund (IMF) is expected to grant China's yuan reserve currency status on Monday. The yuan would be included in the fund's Special Drawing Rights basket which, while largely symbolic, would elevate the currency and China's influence in the global economy.