U.S. futures edge higher ahead of ISM report; Dow Jones up 0.26%

U.S. stock futures pointed to a higher open on Friday, as markets eyed the release of U.S. manufacturing data later in the day, amid speculation the Federal Reserve could begin scaling back its stimulus program sooner than anticipated. 

Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.26% rise, S&P 500 futures signaled a 0.15% gain, while the Nasdaq 100 futures indicated a 0.26% increase. 

A recent series of positive U.S. data added to expectations for the Fed to begin tapering its stimulus program sooner than expected. 

On Thursday, data showed that manufacturing activity in the Chicago region expanded at the fastest rate in 30 years in October, while a separate report showed that U.S. initial jobless claims fell in line with expectations last week.

Separately, equities found support after China's official purchasing managers' index released earlier in the day rose to 51.4 in Octoer, the highest in 18 months, from 51.1 in September. 

Apple was expected to be active, as the tech giant's new iPad Air model was set to begin selling in U.S. stores on Friday. Shares in the company were down 0.18% in pre-market trade. 

The auto sector was also likely to be in focus, after Tesla Motors said it suffered its biggest one-month loss of market value in October amid concern among some investors that a fivefold stock-price surge outpaced the growth prospects for Elon Musk’s electric-car company. 

Tesla shares climbed 0.82% in early trading. 

Meanwhile, Facebook advanced 0.59% in extended trade, as the social media giant said this week that it doesn’t plan to increase the balance of ads that it shows to users in their news feeds. 

Facebook said ads took up 5% of the posts in news feeds in the second quarter and have risen only modestly since then. 

Among insurers, American International Group plumged 3.58% pre-market after naming Brian Schreiber and Geoffrey Cornell deputy chief investment officers. 

Other stocks likely to be in focus included Chevron, scheduled to report quarterly earnings later in the day. 

Across the Atlantic, European stock markets were lower. The EURO STOXX 50 slipped 0.13%, France’s CAC 40 declined 0.35%, Germany's DAX edged down 0.14%, while Britain's FTSE 100 fell 0.10%. 

During the Asian trading session, Hong Kong's Hang Seng Index added 0.19%, while Japan’s Nikkei 225 Index dropped 0.88%. 

Later in the day, the U.S. was to release a report from the Institute of Supply Management on manufacturing activity.