NEW YORK (TheStreet) -- Stock futures were pointing to another down session, the fourth this week, as European shares sold off and crude prices continued to slide.
S&P 500 futures slid 0.42%, Dow Jones Industrial Average futures dropped 0.52%, and Nasdaq futures slipped 0.46%.
The Producer Price Index for November slipped 0.2%; economists were expecting a decline of 0.1%. A month earlier, the measure increased 0.2%.
Crude oil prices sank further after the International Energy Agency cut its forecast for oil demand in 2015 by 230,000 barrels a day to 900,000 barrels. This is the IEA's fifth time it has slashed its forecast in six months.
West Texas Intermediate crude was down 0.93% to $59.39 a barrel. On Thursday, the commodity slipped below $60 a barrel for the first time since July 2009. Prices are now down 44% from a mid-summer peak.
The oil selloff spread to Europe overnight with the STOXX Europe 600 Oil & Gas Index down more than 1%. Germany's DAX plummeted 1.1% and France's CAC 40 plunged 1.6%.
Adobe (ADBE) shares surged 6.3% in premarket trading following a fourth-quarter earnings beat and the announcement it is buying stock image company Fotolia for $800 million. The deal is expected to close in the first quarter of 2015.
United Technologies (UTX) was 2.2% lower after guiding for earnings next year below analysts' estimates due to lower expected sales at its Pratt & Whitney military unit.