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Wall Street set for higher open

Traders work on the floor of the New York Stock Exchange.
Brendan McDermid | Reuters
Traders work on the floor of the New York Stock Exchange.

U.S. stock index futures pointed to a higher open Friday as traders continued to digest the Federal Reserve's decision to raise interest rates.

With triple-witching expiration in the U.S., traders are also watching to see if the Dow Jones can crack the psychologically important 20,000 point level.

The Dow Jones industrial average was set to open about 50 points higher after closing at 19,852.24 Thursday.

Treasury yields were a touch lower after a recent surge to multi-year highs. The U.S. dollar index was steady around 103 after hitting a near 14-year high following the Fed meeting earlier in the week.

The Federal Reserve on Wednesday raised its short-term target rate by 25 basis points in its second rate hike in a decade. The Fed also surprised markets with a forecast that showed it could raise rates three times next year, instead of two.

Housing starts fell a more-than-expected 18.7 percent in November to a seasonally adjusted annual rate of 1.09 million units. Building permits declined 4.7 percent.

U.S. crude oil futures traded slightly higher above $51 a barrel.

In Europe, the pan-European Stoxx-600 index was around 0.2 percent higher on Friday morning.