Wall Street futures point to higher open

Labor Department releases at 8:30 a.m. the July Consumer Price Index. Economists in a Reuters survey expect a 0.2 percent increase, compared with a 0.1 percent decrease in June.

July retail sales data will be released at 8:30 a.m. Economists expect a 0.5 percent rise compared with a 0.5 percent drop in June.

Retailer J.C. Penney Co Inc is scheduled to report second-quarter results.

Investors wait for Real Earnings figures for July, due at 8:30 a.m. Economists expect earnings to be unchanged, compared with a 0.2 percent drop in June.

At 9:55 a.m., Thomson Reuters/University of Michigan Surveys of Consumers release preliminary August consumer sentiment index. Economists in a Reuters survey expect a reading of 69.3 compared with 67.8 in the final July report.

India may shut down Google and Skype Internet-based messaging services over security concerns, the Financial Times reported on Friday, as the government threatened a similar crackdown on BlackBerry services.

Commerce Dept issues at 10 a.m. Business Inventories for June. Economists expect a rise of 0.2 percent versus a 0.1 percent increase in the prior month.

At 10:30 a.m., Economic Cycle Research Institute (ECRI) releases its weekly index of economic activity for August 6. In the prior week the index read 121.8.

Resource-related stocks will be in focus after oil jumped by a dollar to above $76 a barrel in a technical rebound from the steepest three-day decline since mid-May, and as the euro surged after strong second quarter German economic growth.

European shares rose in early trade on Friday as better-than-expected economic growth in Germany and France boosted investors' sentiment, and with miners and oil majors rising on firmer commodity prices.

Shares of Telestone Technologies Corp fell 12 percent, while Nvidia Corp jumped 6 percent in extended trade on Thursday after the companies reported results.

U.S. stocks ended down for a third straight day on Thursday as an unexpected rise in jobless claims and a sobering revenue outlook from Cisco underscored the hurdles to economic recovery.

The Dow Jones industrial average <.DJI> slipped 58.88 points, or 0.57 percent, to 10,319.95. The Standard & Poor's 500 Index <.SPX> dropped 5.86 points, or 0.54 percent, to 1,083.61. The Nasdaq Composite Index <.IXIC> tumbled 18.36 points, or 0.83 percent, to 2,190.27.

(Reporting by Atul Prakash; Editing by David Cowell)

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