US equity futures were higher pre-bell Friday, rebounding from losses from the previous session, after a Federal Reserve official fueled rate cut hopes.

Dow Jones Industrial Average futures were 0.5% higher, S&P 500 futures were up 0.3%, and Nasdaq futures were 0.1% higher.

In a prepared speech for the Central Bank of Chile Centennial Conference, New York Fed President John Williams said he still sees room for "further adjustment" to interest rates in the near term.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.7% at $62.90 per barrel and US West Texas Intermediate crude down 1% at $58.42 per barrel.

The S&P Composite Purchasing Managers' Index, scheduled for release at 9:45 am ET, is seen coming in at 54.5 in the preliminary report for November versus 54.6 previously, according to estimates compiled by Bloomberg.

The November Consumer Sentiment Index, slated for 10 am ET, is seen coming in unchanged from the flash report at 50.3.