Futures higher; Dow, S&P tracking for first 4-week losing streak since 2014

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U.S. stock index futures were higher on Friday morning as traders looked towards the release of existing home sales and comments from Fed Governor Daniel Tarullo.

Tarullo is set to speak at 9 a.m. ET at the National Association of Insurance Commissioners International Insurance Forum in Washington, D.C., while existing home sales are scheduled to be released at 10 a.m.

As of the close Thursday, the major averages were tracking for a weekly decline. The Dow and S&P were on pace for their first four-week losing streak since the one ended October 2014, while the Nasdaq composite was on pace for its first five-week losing streak since 2012.

U.S. stocks closed lower Thursday after comments from New York Fed President William Dudley and the latest Fed minutes increased prospects of a rate hike as soon as June.

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In oil markets, U.S. crude oil futures for June delivery were slightly lower around $48 a barrel as of 8:47 a.m. ET.

The U.S. dollar index was flat, with the euro near $1.122 and the yen near 110.3 yen against the greenback.

Treasury yields were higher, with the 2-year yield near 0.89 percent and the 10-year yield around 1.86 percent.

On the earnings front Campbell Soup reported quarterly earnings a share above estimates on revenue that was a touch lower. The soup and food maker noted continuation of a "very challenging consumer environment," but it did raise its full-year earnings forecast.

Deere posted earnings that beat on both the top and bottom line. The heavy equipment maker noted the continuing downturn in the global farm economy, as well as weakness in the construction equipment sector, but said it was helped by its flexible cost structure, among other factors.

Foot Locker posted earnings that were in line with analysts expectations.

In Europe, the pan European Stoxx 600 Index was up 0.95 percent on Friday morning ET.

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In Asia, Japan's Nikkei closed 0.54 percent higher on Friday. In China, the Shanghai Composite closed 0.68 percent higher.

CNBC's Peter Schacknow contributed to this report.