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Wall Street expected to open higher after stocks reached record highs

Andrew Renneisen | Getty Images

U.S. stock index futures pointed to a higher open on Friday as traders digested economic data and earnings.

The three major U.S. indexes closed at record highs Thursday after President Donald Trump hinted at a tax-related announcement in the next few weeks.

On the data front, import prices rose 0.4 percent in January, more than the expected 0.2 percent increase. Export prices rose 0.1 percent last month, in line with estimates. Consumer sentiment data are set to come out at 10 a.m. ET.

On the earnings front Aon, ArcelorMittal and CBRE Group are among companies that reported before the bell.

In Asian markets, the Shanghai Composite in China closed 0.44 percent higher and the Nikkei in Japan rose 2.49 percent.

On Thursday night, President Donald Trump and President Xi Jinping of China spoke over the phone.

"The two leaders discussed numerous topics and President Trump agreed, at the request of President Xi, to honor our "one China" policy," The White House said in a statement.

In Europe, the pan-European Stoxx 600 Index was around 0.05 percent lower on Friday.