US Stock Futures Point To Higher Opening Friday

Futures on major U.S. indices point to a higher opening Friday ahead of the Reuters/University of Michigan Consumer Sentiment Index and Inflation Expectation survey.

Futures on the S&P 500 are up 0.52 percent, futures on the Dow Jones Industrial Average are up 0.30 percent and Nasdaq 100 futures are up 0.48 percent.

Investors are likely to focus on the Reuters/University of Michigan Consumer Sentiment Index, which will be reported later Friday. The index, which rates the relative level of current and future economic conditions and is compiled from a survey of around 500 consumers, is expected to remain unchanged at 77.8 as equity markets continued to decline during the month. Also to be reported Friday is the Reuters/University of Michigan Inflation Expectation, which measures the percentage that consumers expect the price of goods and services to change during the next 12 months.

On Thursday, U.S. stocks mostly rose as the concern over the debt crisis looming over the euro zone was slightly alleviated with Italy's Prime Minister Mario Monti commenting that Greece would remain in the euro bloc and that a majority of European leaders will favor the Euro bond. The Dow Jones industrial average rose 0.30 percent, the S&P 500 Index climbed 0.10 percent and the Nasdaq Composite Index fell 0.40 percent.

All major European indices were in positive territory Friday following the previous day's rise in U.S. stocks, even though the concerns over the euro zone debt crisis persisted. London's FTSE 100 index was up by 33.05 points, Germany's DAX 30 rose by 79.94 points, and France's CAC 40 climbed by 25.45 points.

Asian markets were mixed Thursday as market sentiment was affected by increasing concerns about China's economic slowdown and worries about Greece exiting the euro zone. Market sentiment continued to be negative as Bloomberg reported that China's biggest banks would miss a loan target for the first time in seven years.