US equity futures were rising ahead of Friday's opening bell as traders continued to monitor the global tariff situation.

Dow Jones Industrial Average futures were up 0.6%, S&P 500 futures increased 0.7%, and Nasdaq futures were 0.8% higher.

China's Office of the Tariff Commission of the State Council said Friday it further raised import levies on US goods to 125% from 84% in response to President Donald Trump's "abnormally high" tariffs on Chinese goods.

Oil prices were little changed, with front-month global benchmarks up 0.1% at $63.38 per barrel and US West Texas Intermediate up 0.2% at $60.21 per barrel.

The US Producer Price Index, released at 8:30 am ET, fell by 0.4% in March following a 0.1% gain in February, compared with estimates compiled by Bloomberg for a 0.2% uptick.

Consumer sentiment, due at 10 am ET, is seen falling to 54.0 in the preliminary report for April from 57.0 in March.

In other world markets, Japan's Nikkei closed 3% lower, Hong Kong's Hang Seng ended 1.1% higher, and China's Shanghai Composite finished 0.5% higher. Meanwhile, the UK's FTSE 100 was up 0.9%, and Germany's DAX index was 1.3% lower in Europe's early afternoon session.

In equities, Stellantis (STLA) stock was down 3% pre-bell after the company said it expects a 9% fall in Q1 shipments.

On the winning side, MSP Recovery (MSPR) shares were up 160% after the company said late Thursday it has agreed to a term sheet for several restructuring deals with Hazel Partners, Virage Capital Management and their affiliates.