Dow futures add 200 as oil climbs

U.S. stock index futures indicated a higher open on Friday as hopes of stimulus in the euro zone and further recovery in oil prices continued to boost recently battered global equities.

Dow futures traded more than 200 points higher. In Europe, the pan European Stoxx 600 index was around 3 percent higher Friday morning.

In Asia, Japan's Nikkei finished 5.88 percent higher, while the Shanghai Composite closed 1.25 percent up in China.

U.S. stocks ended higher but well off session highs Thursday, as some recovery in oil prices and hopes of more stimulus from the European Central Bank helped extend Wednesday's late-session recovery. The Nasdaq composite eked out a gain of 0.01 percent after spiking more than 1 percent, while the Dow Jones industrial average closed up about 115 points after earlier adding more than 250 points.

In oil markets, Brent crude traded at $31.10 a barrel on Friday, up 6.4 percent, while U.S. crude was at $31.13 a barrel, up 5.4 percent.

The U.S. dollar held higher against major world currencies, with the euro near $1.08 and the yen at 118.21 yen against the greenback as of 8:34 a.m. ET.

On the data front, Friday will see the Markit manufacturing PMI released at 9:45 a.m. ET, with leading indicators and existing home sales due at 10:00 a.m.

The Chicago Fed December National Activity Index came in at minus 0.22, versus November's negative 0.36 read.

Treasury yields edged higher, with the 2-year yield at 0.86 percent and the 10-year yield at 2.06 percent, as of 8:34 a.m. ET.

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Recession talk has been circling the stock market during its rapid decline, but concerns could be allayed over the next two weeks depending on whether U.S. data or corporate earnings perk up.

General Electric reported earnings that beat by 3 cents, but revenue missed, pressured by a strong dollar and a delay in some shipments in power and renewables to 2016 from 2015.

— CNBC's Patti Domm contributed to this report