Investors are likely to keep an eye on reports on Personal Income and Spending, Consumer Sentiment, as well as Chicago-area business activity.
Early cues from the U.S. Futures Index suggest that Wall Street might open broadly up.
Asian shares finished in the red, while European shares are also trading lower.
As of 7.40 am ET, the Dow futures were losing 44.00 points, the S&P 500 futures were gaining 7.50 points and the Nasdaq 100 futures were up 49.50 points.
The U.S. major averages all saw substantial weakness on Thursday. The Nasdaq plunged 478.54 points or 3.5 percent to 13,119.43, its lowest closing level in nearly a month.
The Dow also tumbled 559.85 points or 1.8 percent to 31,402.01 and the S&P 500 plummeted 96.09 points or 2.5 percent to 3,829.34.
On the economic front, the International Trade in Goods for January will be issued at 8.30 am ET. The consensus is for negative $83 billion, while it was negative $82.5 billion in the prior month.
Personal Income and Outlays for January will be released at 8.30 am ET. The consensus is for 9.4 percent, while it was up 0.6 percent in the prior month.
The Retail Inventories for January is scheduled at 8.30 am ET. In the prior month, the inventories were up 1.0 percent.
The Institute for Supply Management's Chicago PMI for February will be revealed at 9.45 am ET. The consensus is 61.0, while it was up 63.8 in the prior month.
The Institute for Social Research's Consumer Sentiment report for February will be released at 10.00 am ET. The consensus is 76.4, while it was up 76.2 in the previous month.
The Baker Hughes Rig Count for the week is scheduled at 1.00 pm ET. In the prior week, the North America Rig Count was 569 and the U.S. Rig Count was 397.
The Department of Agriculture's Farm Prices for January will be published at 3.00 pm ET. In the prior month, the Farm Prices were down 1.8 percent.
Asian stocks hit one-month lows on Friday as a rout in global bond markets sent yields flying. China's Shanghai Composite index dropped 75.97 points, or 2.12 percent, to 3,509.08. Hong Kong's Hang Seng index ended down 1,093.96 points, or 3.64 percent, at 28,980.21.
Japanese shares led regional losses. The Nikkei average tumbled 1,202.26 points, or 3.99 percent, to 28,966.01 - logging the biggest point drop since June 2016.
The broader Topix index ended down 61.74 points, or 3.21 percent, at 1,864.49.
On the economic front, Japan's industrial output rose 4.2 percent sequentially in January, while retail sales dropped 2.4 percent year-on-year.
Australian markets ended sharply lower. The benchmark S&P/ASX 200 plunged 160.70 points, or 2.35 percent, to 6.673.30 - marking its worst session in about six months and hitting a near four-week low. The broader All Ordinaries index plummeted 165.10 points, or 2.32 percent, to finish at 6,940.60.
European shares are trading lower. Among the major indexes in the region, the German DAX is losing 70.21 points or 0.53 percent, the U.K. FTSE 100 Index is down 97.19 points or 1.46 percent.
The Swiss Market Index is declining 27.90 points or 0.26 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.87 percent.
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