Futures for the S&P 500 were down 1.4 per cent, Dow Jones futures were 1.3 per cent lower and Nasdaq 100 futures were down 1.4 per cent at 0939 GMT.
Late on Thursday, House of Representatives Speaker John Boehner conceded there were insufficient votes to pass his tax bill to help avert the 'fiscal cliff' of automatic tax rises and spending cuts, leaving only 11 days for politicians to come to a deal.
Nike Inc will be in focus after it reported forecast-topping quarterly profit on Thursday on strong North American demand, while its orders volume indicated steady worldwide demand.
Its shares jumped 6 per cent after the bell.
Research In Motion shares tumbled more than 10 per cent on Thursday after the company reported the first ever decline in its subscriber numbers and outlined plans to transform the way it charges for its BlackBerry services.
Red Hat Inc, the world's largest distributor of Linux operating software, posted third-quarter revenue above analysts' estimates on strong growth in its subscription business, sending its shares up 6 per cent in after-market trading.
Instagram, the popular photo-sharing service own by Facebook, has retreated from some but not all of the controversial changes in its terms of service that prompted a fierce backlash from users earlier this week.
Shares in the defence sector will be in focus after the US House of Representatives approved the final version of the annual defense policy bill on Thursday.
The bill authorizes $633.3 billion in defense spending for 2013, easing
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