US Stock Futures Point To Higher Open After Banks Downgraded

U.S. stock index futures point to a higher open Friday, but investors are expected to remain watchful amid weak data across the globe following the downgrading of 15 global banks by ratings agency Moody's on Thursday.

Futures on the Dow Jones Industrial Average rose 0.25 percent, futures on the Standard & Poor's 500 index advanced 0.45 percent and futures on the Nasdaq 100 index climbed 0.4 percent.

Investors will keep their eyes on a meeting in Rome among the leaders of Germany, France, Italy and Spain on Friday, at which they will try to find common ground to restore confidence in the euro zone ahead of a full EU summit next week, Reuters reported.

On Thursday, U.S. markets were down as investor sentiment was negative following global economic growth concerns. The Dow Jones industrial average was down 2 percent, the S&P 500 Index was down 2.2 percent and the Nasdaq Composite Index was down 2.4 percent.

The fall in the Markit Flash U.S. Manufacturing PMI survey for June to 52.9 from 54.0 in May added to the disappointment that the Fed was not more aggressive in announcing stimulus measures. According to the Federal Reserve Bank of Philadelphia, factory activity in the Mid-Atlantic region declined to -16.6 in June from -5.8 in May.

Moody's Thursday ratings cut for 15 global banks added to investors' concerns. The ratings agency stated in a report that these banks had significant exposure to volatility and risked outsized losses inherent to capital markets activities.

Major European indices were in the red as investors were worried after June's euro zone PMI survey confirmed the picture of falling economic activity in the region. London's FTSE 100 fell by 49.85 points, Germany's DAX 30 index declined 62.57 points and France's CAC 40 moved down by 32.93 points.

Asian markets fell Friday following global cues as investors were concerned that the global economy was faltering.