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Futures point higher to higher open after earnings, Wall Street awaits PMI

Andrew Renneisen | Getty Images

U.S. stock index futures indicated a higher open on Friday morning as investors await manufacturing PMI and corporate earnings.

General Electric posted a rise in adjusted net income for the quarter as its power business revenue rose. Earnings also got a lift from the sale of its appliance business, the company said. The industrial conglomerate earned an adjusted 51 cents per share for the second quarter, five cents above estimates, with revenue also scoring a beat.

Honeywell, Whirlpool and Stanley Black & Decker also topped second-quarter estimates.

In oil markets, Brent crude traded at around $46.45, up 0.16 percent. U.S. WTI crude rose half a percent to just under $45.

In Europe, the pan European Stoxx 600 Index was down by around 0.22 percent on Friday morning.

European stocks fluctuated after the preliminary reading of manufacturing and services activity in the Euro Zone showed business activity fell less than expected in July.

The preliminary purchasing managers' index (PMI) for the manufacturing and services sectors in the euro zone rose to 52.9 in July, above expectations for a reading of 52.5 according to analysts polled by Reuters.

The pan-European STOXX 600 index traded down 0.1 to 0.2 percent. Sectors were mostly in negative but telecoms posted solid gains. London's FTSE rose 0.4 percent and France's CAC was up 0.2 percent. Meanwhile, Germany's DAX fluctuated, currently trading slightly up.

In Asia, Japan's Nikkei closed 1.09 percent lower on Friday while in China, the Shanghai Composite closed 0.87 percent lower.

U.S. stocks closed lower Thursday, snapping the Dow's nine-day winning streak, as oil prices weighed and the market consolidated ahead of next week's Fed meeting. The S&P 500 closed down fractionally, and health care and utilities were the only sectors in the green. The Nasdaq fell 16 points.