Stock index futures accelerated their losses Friday after euro zone finance ministers withheld further aid for Greece and demanded more cuts in return for a second bailout.

Euro zone finance ministers said the debt-ridden nation will need to make further cuts in order to be granted bailout funds. Menawhile, Greek workers went on strike, protesting against the austerity measures.

Adding to woes, Chinese January trade data fell the most since the depths of the financial crisis, signaling further demand decline.

On the economic front, the trade deficit widened slightly more than expectedto $48.8 billion in December, according to the Commerce Department, climbing to the highest level since July 2008. Economists polled by Reuters had expected the trade deficit at $48.0 billion.

The Thomson Reuters/University of Michigan Surveys of Consumers is due at 9:55 am ET. Economists expect February's preliminary consumer sentiment index to dip to 74.5 from 75.0 in the final January report.

At 2 pm ET, the Treasury Department issues its monthly budget for January. Economists in a Reuters poll forecast a $50 billion deficit, compared with a December budget deficit of $85.97 billion.

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