At around 04:30 a.m. ET, Dow futures fell 104 points, indicating a negative open of more than 84 points. Futures on the S&P 500 and Nasdaq were also slightly lower.
Wall Street ended Thursday on a more positive note, erasing most of the steep losses seen earlier in the week. Overnight, Bloomberg reported that the U.S. is holding off on giving permission to U.S. companies to use Huawei products, citing people familiar with the matter. This comes after China decided to stop buying American crops and after the U.S. officially declared China a currency manipulator earlier this week.
In Europe, bank stocks led markets lower Friday morning as Italian lenders tumbled on political uncertainty in the country. Italy’s coalition government imploded on Thursday evening, as deputy prime minister and leader of Italy’s ruling Lega party, Matteo Salvini, declared the arrangement unworkable and called for fresh general elections.
On the data front, there will be new PPI (producer price index) and core PPI numbers out at 08:30 a.m. ET. In corporate news, Novo Nordisk, WPP and Tribune Media are reporting Friday.