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Futures point to a flat open on Wall Street, amid more earnings, data releases

U.S. stock index futures pointed to a flat open Friday, as investors geared up for the final cluster of economic data and digested more corporate earnings.

Dow Jones industrial average futures fell 13 points, while S&P 500 futures declined 0.25 points. Nasdaq 100 futures rose 7.25 points.

On Thursday, U.S. markets roared back into action, with the Dow Jones industrial average jumping 187 points by the market close, following strong quarterly results from the likes of Cisco Systems and Wal-Mart.

Michael Liloia, a trader with Deutsche Bank Securities Inc., left, works on the floor of the New York Stock Exchange in New York, U.S., on Tuesday, Feb. 22, 2011.
Jin Lee | Bloomberg | Getty Images
Michael Liloia, a trader with Deutsche Bank Securities Inc., left, works on the floor of the New York Stock Exchange in New York, U.S., on Tuesday, Feb. 22, 2011.

Looking overseas, market action on Friday seems to have pulled back a bit, with European stocks under slight pressure while markets in Asia finished the last day of the week on a relatively mixed to higher note. Consequently, following a strong session Thursday, investors are likely to be pausing for breath ahead of Friday's U.S. open.

On the earnings front, Foot Locker shares surged more than 20 percent in the premarket after reporting better-than-expected earnings. Gap, Ross Stores and Applied Materials also rose on strong quarterly results.

Another batch of economic data is set to be released Friday. First off, housing starts and building permits are due out at 8:30 a.m. ET, and then the Kansas City Fed manufacturing survey is set to be published at 11 a.m. ET.

In domestic news, House Republicans passed a bill to cut taxes on businesses and individuals on Thursday, with the tax reform plan receiving 227 votes in favor, beating the 205 votes that voted against.

If the bill does end up becoming law, it would cut the corporate tax rate from 35 percent to 20 percent without delay.

Tax reform will now look towards the Senate, where the Finance Committee is expected to vote on Friday.

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Looking to the central bank front, Chicago Fed President Charles Evans is expected to speak at the Community Bankers Symposium in Chicago.

Finally, oil prices edged higher Friday after a turbulent week for the energy market.

—CNBC's Jacob Pramuk contributed to this report