U.S. stock index futures were marginally higher Friday morning as sentiment recovers following weaker-than-expected retail data.
At around 6:05 a.m. ET, Dow Jones Industrial Average futures rose 17 points, indicating a positive open of more than 8 points. Futures on the S&P and Nasdaq were also seen slightly higher.
On Thursday, U.S. retail sales data showed a contraction of 1.2 percent in December – the biggest monthly fall since September of 2009. As a result, Wall Street ended the day lower.
In the meantime, investors continue to follow news of U.S.-China trade talks. According to the South China Morning Post, Chinese President Xi Jinping will meet with U.S. delegates on Friday, including Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer.
Politics remains the focus after the White House said Thursday that President Trump is signing legislation that prevents a government shutdown, while also declaring a national emergency to try to build a wall on the border with Mexico.
Trump is due to speak in the White House Rose Garden at 10 a.m. ET on what the White House called the “national security and humanitarian crisis on our southern border.”
On the earnings front Allianz, Deere and PepsiCo are among the major companies expected to report their latest quarterly results before the opening bell.
There is also a raft of data due. There will be industrial production numbers out at 9.15 a.m. ET and consumer sentiment out at 10 a.m. ET.