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U.S. Stock Futures Tick Up

Gazala Parveen

U.S. stock index futures edged up Friday, a day after logging sharp losses amid China growth worries.

Futures on the S&P 500 index were up 2.75 points at 1842.50 points while those on the Nasdaq index climbed 6.00 points to 3650.5 points.

On Thursday, Wall Street stocks posted their worst performance in more than five weeks with the S&P 500 ending 1.2% lower, below a key technical point. The Dow Jones Industrial Average also dropped 1.4% in its fourth consecutive slide while the Nasdaq erased 1.5%.

On the economic calendar, a few data points are scheduled for release, starting with Producer Price Index at 8:30 a.m. Eastern time.

The University of Michigan's preliminary reading on consumer sentiment, current economic conditions and inflation expectations will be out at 9:55 a.m.

Across borders, Asian markets declined earlier in the day on heels of some more disappointing data from China that added to growth concerns in the world's second-largest economy.

European stocks also opened lower as risk sentiment soured further amid fresh fears over the Russia-Ukraine standoff. According to latest reports, Russia initiated new militiary drills near its border with Ukraine ahead of a referendum that is scheduled on Sunday. Crimeans will vote to either join Russia or remain an autonomous state within Ukraine.