US Markets

Futures flat on weak US jobs report

January jobs report key to Friday trading
January jobs report key to Friday trading

U.S. stock index futures traded in a narrow range on Friday after a mixed U.S. jobs report.

The U.S. economy added 151,000 jobs in January. Economists expected a gain of 190,000. The unemployment rate, however, fell to 4.9 percent from 5.0 percent.

The job market has been a pillar of strength for the U.S. economy and a key reason that the Federal Reserve was able to hike interest rates, so January's employment report has become even more critical amid new signs the economy has hit a soft patch.

Elsewhere on the data front, consumer credit is set to come out at 3:00 p.m.

In oil markets, Brent crude traded around $34.75 a barrel on Friday morning, up by 1 percent, while U.S. crude was at around $32 a barrel, up 1.13 percent.

On the earnings front, CME Group and Estee Lauder, among others, reported before the bell.

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In Asia, Japan's Nikkei finished 1.32 percent lower, while the Shanghai Composite closed 0.61 percent lower in China. In Europe, the pan European Stoxx 600 index was around 0.31 percent higher on Friday.

— CNBC's Patti Domm contributed to this report