Futures on major U.S. stock indices pared earlier losses and point to a flat opening on Friday after a report showed that Consumer Price Index (CPI) and retail sales rose in July. Futures on the S&P 500 are down 0.08 percent, futures on the Dow Jones Industrial Average are up 0.04 percent and Nasdaq100 futures are down 0.14 percent. At 8:30 a.m. EDT, the Department of Labor reported that CPI rose 0.3 percent in July on higher energy prices. Core CPI, excluding food and energy, rose 0.1 percent in July and was in line with analysts’ expectations. The Commerce Department reported that retailer sales increased 0.4 percent in July compared to 0.3 percent in previous month and against analysts’ estimation of 0.5 percent growth. Core retail sales, excluding auto, rose 0.2 percent in July from a 0.1 percent decline in last month. Other economic indicators including Michigan Consumer Sentiment Index, Michigan Inflation Expectations and Business inventories will release after market opens. European stocks entered into negative region after paring earlier gains, led by declines from retailers. Markets are currently trading lower with FTSE 100 is trading down by 17.12 points, DAX30 is trading down by 36.52 points and CAC 40 is trading down by 23.79 points. German second quarter GDP expanded at the fastest pace in nearly two-decades, surging 2.2 percent in second quarter compared to 0.5 percent in the first quarter. French second quarter GDP grew by 0.6 percent compared to 0.2 percent of first quarter and against analysts’ estimation of 0.4 percent. The euro declined 0.11 percent to 1.2814 against the dollar and the yen advanced 0.08 percent against the greenback. Crude oil futures advanced 0.32 percent and copper futures declined 0.53 percent. In precious metal sector, gold futures fell 0.16 percent and silver futures gained 0.11 percent.

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