On a day with few economic announcements, the data on Industrial Production and Housing Starts could hold significant interest for investors on Friday.
Asian markets closed mostly in positive territory, and European markets are also seeing gains.
During the Asian trading session, the US dollar weakened, while both oil and gold are on track for weekly gains.
Early indications from the U.S. Futures Index point to a moderately positive opening for Wall Street.
As of 7:30 a.m. ET, the Dow futures had risen by 165 points, the S&P 500 futures were up 20 points, and the Nasdaq 100 futures had advanced by 93.5 points.
U.S. major indices closed lower on Thursday. The Nasdaq, heavily weighted toward technology stocks, fell by 172.94 points, or 0.9%, to close at 19,338.29. The Dow slipped 68.42 points, or 0.2%, to 43,153.13, and the S&P 500 decreased by 12.57 points, or 0.2%, to 5,937.34.
On the economic calendar, data on Housing Starts and Permits for December will be released at 8:30 a.m. ET by the U.S. Census Bureau, Department of Commerce, and the Department of Housing & Urban Development. Expectations are set at 1.32 million, compared to 1.28 million in the previous month.
The Federal Reserve's report on Industrial Production for December is due at 9:15 a.m. ET, with a consensus showing a 0.3% increase following a 0.1% decline the prior month.
Baker Hughes will release its weekly rig count at 1:00 p.m. ET, with last week's North American total at 800 and the U.S. rig count at 584.
The Treasury International Capital data for November will be available at 4:00 p.m. ET. The previous month showed net long-term securities transactions totaling $152.3 billion.
Asian stock markets presented a mixed performance on Friday. China's Shanghai Composite Index rose by 0.18%, closing at 3,241.82, while Hong Kong's Hang Seng Index edged up 0.31% to 19,584.06.
In Japan, markets experienced slight declines; the Nikkei average slipped by 0.31% to 38,451.46, and the broader Topix index decreased by 0.33% to 2,679.42.
In Australia, markets closed lower, with the S&P/ASX 200 falling by 0.20% to 8,310.40, and the broader All Ordinaries index dropping by 0.14% to 8,557.40.
European markets are trading mostly higher. France's CAC 40 is up 76.54 points, or 1%, Germany's DAX is progressing 196.91 points, or 0.95%, England's FTSE 100 is adding 103.47 points, or 1.23%, and the Swiss Market Index has risen by 44.04 points, or 0.37%.
The Euro Stoxx 50, representing blue-chip supersector leaders in the Eurozone, has increased by 0.75%.
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