UPDATED 7:40 ET

STOCKS – European stocks were little changed, heading for a second weekly drop. U.S. stock-index futures rose, while Asian shares fell.

BONDS – Treasuries were the cheapest since September as investors waited for the U.S. to sell $112 billion of notes next week.

COMMODITIES – Gold traded sideways in London as investors weighed signs physical demand may rise at lower prices against the outlook for less U.S. stimulus.

CURRENCIES -The British Pound fell for a third day on speculation gains that saw the U.K. currency reach the highest level in more than two years were overdone.

ECONOMIC DATA – US PPI m/m due at 8:30 ET.