US equity futures were marginally higher pre-bell Friday as traders observed bond yields easing and continued to monitor developments in the Middle East peace negotiations.

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

Treasury yields declined after a spike earlier in the week. The yield on the 10-year US Treasury note fell more than 2 basis points to 4.56%.

Iranian Foreign Minister Abbas Araqchi met with Pakistani Interior Minister Syed Mohsin Naqvi in Tehran to discuss proposals aimed at ending the US-Iran conflict, according to Iranian media reports. US and Iran are still in disagreement over the issue of uranium enrichment and control over the Strait of Hormuz.

Traders noted the latest round of earnings, with BJ's Wholesale Club (BJ) posting lower fiscal Q1 adjusted earnings on higher revenue.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.9% at $104.53 per barrel and US West Texas Intermediate crude 1.3% higher at $97.53 per barrel.

The final University of Michigan consumer sentiment report for May, scheduled at 10 am ET, is expected to show consumer sentiment index coming in at 48.2, unchanged from the preliminary reading, according to estimates compiled by Bloomberg.

Federal Reserve Governor Christopher Waller is slated to speak on Friday.