Stock index futures pointed to a weaker open on Wall Street on Friday, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 down 0.3 to 0.4 percent.

Dai-ichi Life (8750.T), Japan's largest listed life insurer, said on Friday it has agreed to acquire up to 20 percent stake in U.S. asset manager Janus Capital Group (JNS.N).

The Labor Department releases at 8:30 a.m. EDT July import-export prices. Economists forecast a 0.1 percent rise in import prices and an unchanged reading for exports. In June, import prices fell 2.7 percent and export prices were down 1.7 percent.

Manchester United Ltd's (MANU.N) initial public offering priced well below its expected range on Thursday, valuing the British soccer club at only $2.3 billion and shaving off as much as $100 million from the anticipated proceeds for the team and its owners. Manchester United will start trading on Friday on the New York Stock Exchange.

The Philadelphia Fed publishes its quarterly survey of professional forecasters at 1400 GMT.

Chesapeake Energy (CHK.N) said it is the subject of a U.S. government investigation over possible criminal antitrust violations related to the purchase and lease of oil and gas properties in Michigan.

Economic Cycle Research Institute releases its weekly index of economic activity for August 3 at 1430 GMT. In the prior week, the index read 122.2.

On the earnings front, J.C. Penney (JCP.N) will report the numbers for the second quarter since it adopted a risky new pricing strategy, with Wall Street expecting it to lose money, compared to a profit one year ago.

The Treasury Department issues monthly budget for July at 1800 GMT. Economists forecast a $103.0 billion deficit, compared with a June budget deficit of $60.0 billion.

European shares .FTEU3 fell 0.3 percent on Friday after a five-day winning streak as weaker-than-expected Chinese economic data hit equity markets.

China's July exports rose just 1 percent from a year earlier, undershooting forecasts by a big margin and adding to a downbeat set of monthly data that has boosted expectations of fresh government action to shore up the economy.

The Standard & Poor's 500 extended its rally to a fifth day on Thursday, again eking out a tiny gain as lingering expectations for economic stimulus from central banks lent support to a market lacking new catalysts.

The Dow Jones industrial average .DJI slipped 10.45 points, or 0.08 percent, to 13,165.19 at the close. But the Standard & Poor's 500 Index .SPX inched up 0.58 of a point, or 0.04 percent, to 1,402.80. The Nasdaq Composite Index .IXIC gained 7.39 points, or 0.25 percent, to close at 3,018.64.

(Reporting by Atul Prakash; Editing by Toby Chopra)

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