Markets appear to have stepped back from the brink after hair-raising events in Europe cast a pall over Wall Street.
Here are the five things you need to know before the opening bell rings in New York:
1) Europe shows resilience: Major European exchanges were all higher in early trading on Friday, bouncing back after worries over a Portuguese bank unnerved investors.
Shares in Banco Espirito Santo were suspended on Thursday, but not before they slumped 17%, taking losses for the year to 46%. Shares in parent company Espirito Santo Financial Group were also suspended.
2) U.S. primed for strong start: Following the lead of European markets, U.S. stock futures were all in positive territory on Friday morning.
3) Earnings on tap: Wells Fargo will report earnings before the opening bell, giving investors some insight into the health of the banking sector.
4) Market recap: U.S. stocks closed lower Thursday. The Dow Jones Industrial Average ended the day 71 points lower, while the S&P 500 fell 0.4% and the Nasdaq closed off 0.5%.
5) Asia unfocused: Asian markets were all over the place on Friday. Japan’s Nikkei shed 0.3%, the Hang Seng was flat and the Shanghai Composite added 0.4%.
