Futures are higher ahead of a quiet day for data

Stock futures were a hair higher on Friday ahead of a quiet day for economic data.

Near 8:07 a.m. ET, Dow futures were up 49 points (0.28%), S&P 500 futures were up 5 points (0.27%) and Nasdaq futures were up 14 points (0.34%).

The Dow and S&P 500 are still red for the week, and closed lower in the previous three. The S&P 500 went red for the year again on Thursday.

If they close down again on Friday, it would be the first four-week losing streak since October 2014. For the Nasdaq, it would be the first five-week streak since 2012.

Stocks closed lower on Thursday, as stocks continued to sell off following Wednesday's Federal Reserve minutes that showed the policy-setting committee may raise rates in June if the economic data lines up.

Existing home sales numbers are due at 10 a.m. ET, and that's the only item on the US data calendar. Just after 1 p.m., driller Baker Hughes will release its weekly count of US oil and gas rigs. The combined total fell to another record low last week, as the oil tally declined for a seventh straight period.

Crude oil prices were little changed in early trading. West Texas Intermediate crude was up 0.1% to $48.74 per barrel in New York.

In earnings, John Deere reported better-than-expected profits, but cut its outlook for full-year net income amid what it calls a "global farming recession."