Stock futures edged higher on Friday, on track to post another record session, in a quieter session after the Thanksgiving holiday in the U.S.
S&P 500 futures rose 0.2%, Dow Jones Industrial Average futures gained 0.26%, and Nasdaq futures were higher by 0.19%.
The Dow and S&P 500 secured new records on Wednesday after minutes from the Federal Open Market Committee's meeting in November confirmed expectations for an interest rate hike in December. Federal Reserve members have recently taken a hawkish turn as labor market strength has held and inflation has moved toward the Fed's 2% target.
The U.S. trade deficit widened in October more than expected. The Census Bureau reported a $62 billion trade deficit last month after a deficit of $56.5 billion in September. Analysts anticipated a deficit of $59.7 billion.
Crude oil moved lower on Friday as investors awaited next week's meeting among Organization of Petroleum Exporting Countries. Major oil-producing nations met earlier in the week, though the likelihood of a production freeze agreement large enough to tackle global oversupply remains unclear.
OPEC aims to limit production to 32.5 million to 33 million barrels a day, though some countries have reportedly expressed resistance to their level of involvement in production cuts, hesitant to cede market share. The bloc reached a record 33.83 million barrels a day last month. Members will meet again in Vienna on Nov. 30 to vote on the deal.
West Texas Intermediate crude was down 1% to $47.43 a barrel on Friday morning.
Stock markets will close early at 1 p.m. on Friday after being closed on Thursday for Thanksgiving.