5 Things You Should Know Before the Stock Market Opens

NEW YORK (TheStreet) -- U.S. stock futures pointed to losses on Wall Street Friday following a shocking $2 billion trading loss at JPMorgan Chase(JPM) .

"This has permeated to the wider market as investors assess the possible systemic risk, adding another layer of caution to the fragile trading environment," said Jordan Lambert, a trader at Spreadex, The Associated Press reported.

European shares were mixed amid continued political upheaval in Greece, while Asian stocks finished to the downside on signs of slower growth in China. Japan's Nikkei 225 index fell 0.6% to 8,953.31.

The economic calendar in the U.S. on Friday includes the producer price index for April at 8:30 a.m. EDT, and the University of Michigan consumer sentiment survey data at 9:55 a.m.

Economists forecast PPI to come in flat, with the core number, excluding food and energy, seen up 0.2%.

On consumer sentiment, economists sees a tick lower to 76 from a prior reading of 76.4.

JPMorgan Chase recorded a $2 billion mark-to-market loss in its synthetic credit portfolio since the end of the first quarter, the bank said Thursday.

CEO Jamie Dimon called the trade "flawed, poorly reviewed, poorly executed" and said it reflected "sloppiness" and " bad judgment."

In a conference call Thursday, Dimon said the bank's Chief Investment Office suffered a trading loss of $2 billion in its synthetic credit portfolio, offset by a $1 billion securities gain, as a strategy to re-hedge its portfolio backfired.

Depending on who you believe, Facebook's record initial public offering is already oversubscribed, as Reuters reported, or has generated lower-than-expected demand from institutional investors, according to Bloomberg.

A source familiar with the Facebook listing told Reuters that institutional investors have so far indicated demand for more shares than Facebook has available, despite concerns over slowing growth.

Facebook is seeking to raise about $10.6 billion in the offering.

Bloomberg reported that some investors have expressed reluctance about the IPO after Facebook said Wednesday that advertising growth hasn't kept pace with the increase in users. Bloomberg cited people with knowledge of the matter.