US Markets

US futures lower; oil eyed

Spencer Platt | Getty Images

U.S. stock index futures indicated a lower open on Friday as traders eyed the latest rig count data for more signs that U.S. production could pick up with rising crude prices. Baker Hughes' rig count is expected at 1 p.m. ET Friday.

The rapid rise in oil prices defies many analysts' expectations, but it has been driven in part by comments from OPEC members and other producers about a meeting in late September that could involve discussion on freezing production or other actions.

Brent crude traded at $50.62 a barrel on Friday, down 0.39 percent, while U.S. crude was unchanged at $48.09 a barrel, down 0.27 percent.

On the earnings front, Deere and Estee Lauder posted quarterly results.

In Europe, the pan European Stoxx 600 Index was down by around 0.72 percent on Friday. In Asia, Japan's Nikkei closed 0.36 percent higher on Friday, while in China the Shanghai Composite closed 0.15 percent higher.

—CNBC's Patti Domm contributed to this report