U.S. futures rise ahead of data; Dow Jones up 0.12%

U.S. stock futures pointed to a higher open on Friday, as investors eyed the release of U.S. data later in the day, after positive U.S. economic reports indicated that the recovery is on track. 

Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.12% gain, S&P 500 futures signaled a 0.20% rise, while the Nasdaq 100 futures indicated a 0.22% increase. 

The Commerce Department on Thursday said gross domestic product expanded at an annual rate of 2.5% in the three months to June, above expectations for growth of 2.2% and up from a preliminary estimate of 1.7%.

In a separate report, the Department of Labor said the number of people who filed for unemployment assistance fell by 6,000 to a seasonally adjusted 331,000 last week, the lowest level since October 2007 last week, compared to forecasts for a decline of 5,000.

Investors remained cautious however, amid concerns over an impending U.S.-led military strike against Syria, following the alleged use of chemical weapons.

The White House said on Thursday that President Barack Obama will decide on a response to Syria based on U.S. interests, but will continue to consult with Britain despite the British Parliament's "no" vote to a military intervention. 

Verizon Communications was expected to remain in the spotlight, following reports on Thursday that the British company Vodafone was in talks to sell its 45% stake in Verizon Wireless to its U.S. partner Verizon Communications in what would be the biggest deal in more than a decade. 

Verizon shares slipped 0.15% in after-hour trade. 

Commodity-linked stocks were also likely to be in focus, after a slump in European energy companies, due to the recent downtrend in oil prices. Exxon Mobil and Chevron both dipped 0.03% in extended trading. 

In earnings news, Krispy Kreme Doughnuts saw shares dive 10.98% in pre-market trade, after reporting second-quarter profit that trailed analysts’ estimates as costs increased. 

Across the Atlantic, European stock markets were lower. The EURO STOXX 50 slid 0.68%, France’s CAC 40 declined 0.64%, Germany's DAX slumped 0.62%, while Britain's FTSE 100 retreated 0.49%. 

During the Asian trading session, Hong Kong's Hang Seng Index added 0.12%, while Japan’s Nikkei 225 Index dropped 0.53%. 

Later in the day, the U.S. was to release a report on manufacturing activity in Chicago and revised data from the University of Michigan on consumer sentiment, as well as data on personal income and personal spending.