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NEW YORK (CNNMoney) -- U.S. stock futures pointed to a higher open Friday, a day after plunging on fears of slow global growth ahead of Moody's downgrade of several major banks.
The Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were all higher Friday morning. Stock futures indicate the possible direction of the markets when they open at 9:30 a.m. ET.
Investors head into Friday morning digesting Moody's downgrade of 15 major banks after Thursday's close.
Financial stocks including Morgan Stanley (MS, Fortune 500), Goldman Sachs (GS, Fortune 500), Bank of America (BAC, Fortune 500) and JPMorgan Chase (JPM, Fortune 500) fell during Thursday's trading as downgrade rumors swirled, though they pared losses in after-hours trading. Morgan Stanley was up 3.7% early Friday, while Bank of America edged higher 0.5%.
The downgrades could raise costs for the banks, making it more expensive for them to borrow money.
The news comes amid continued anxieties over Europe's debt crisis and the havoc it could wreak on the global markets. An independent audit released on Thursday found that Spanish banks need up to €62 billion to restore stability to the country's financial sector.
U.S. stocks closed sharply down on Thursday, as investors fretted over slowing global growth and the impending Moody's downgrades. The Dow suffered its second worst day of the year.
World markets: European stocks slid in morning trading. Britain's FTSE 100 (UKX) lost 0.9%, the DAX (DAX) in Germany fell about 1.0% and France's CAC 40 (CAC40) shed 0.8%.
Asian markets ended in the red. The Hang Seng (HSI) in Hong Kong dropped 1.4% and Japan's Nikkei (N225) edged lower 0.3%. The Shanghai Composite (SHCOMP) was closed for a holiday.
Economy: There are no major economic reports scheduled for Friday.
Companies: Shares of transportation company Ryder Systems (R, Fortune 500) slid nearly 9% after Thursday's close. The company lowered its earnings outlook for the second quarter and fiscal year 2012, citing declining demand for its commercial rental vehicles.
Bank stocks -- including Goldman Sachs, Bank of America, Citigroup and Morgan Stanley -- regained some lost ground after-hours Thursday after falling during the trading day amid the downgrade rumors.
Currencies and commodities: The dollar edged higher against the euro and Japanese yen, but fell versus the British pound.
Oil for August delivery rose 38 cents to $78.58 a barrel.
Gold futures for August delivery rose $5.00 to $1,570.50 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury fell slightly, pushing the yield up to 1.63% from 1.62% late Thursday.
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