Stocks poised for rocky start

LONDON (CNNMoney.com) -- U.S. stocks appeared poised for a rocky start Friday as record high oil prices offset solid earnings from software giant Microsoft.

At 5:04 a.m. ET, stock futures were pointing to a lower open for Wall Street.

Oil prices kept up their record run, hitting a new trading high of $92.22 in Asia. The front-month crude contract jumped $3.36 to settle at a record close of $90.46 a barrel in New York on Thursday.

Dow component Microsoft (Charts, Fortune 500) reported solid earnings after the market close. The company posted a rise in profit and revenue that exceeded analysts' estimates. Microsoft shares soared 10 percent in Frankfurt.

The economic calendar is light. The only major release is the University of Michigan's final reading on consumer sentiment in October. That report is due at 10 a.m. ET.

Among stocks to watch, Countrywide Financial (Charts, Fortune 500) is due to report its quarterly results before the market open.

Merrill Lynch (Charts, Fortune 500) CEO Stanley O'Neal could lose his job after approaching Wachovia about a potential merger without first getting board approval, the New York Times reported.

In global trade, Asian stocks rallied and finished the session higher. European markets were mostly higher, lifted by oil stocks.