Futures drift amid economic unease

NEW YORK (CNNMoney.com) -- U.S. stocks looked set for another rocky session Friday as investors remained wary of the slowing economy and crude prices pulled back further.

Less than three hours before the start of trading, Nasdaq and S&P futures were mixed, with a comparison to fair value suggesting a flat to positive start for Wall Street.

Stocks sank Thursday after a report on regional manufacturing from the Philadelphia Federal Reserve and the Conference Board's index of leading economic indicators both showed weakness that stirred recession fears.

Investors may remain uneasy Friday, especially with no major economic readings or corporate earnings due out.

Oil prices rose back towards the $100 a barrel mark in early trading. A barrel of light, sweet crude for April delivery gained $1.12 to $99.35 in early electronic trading.

In global trade, Asian markets on worries about a U.S. recession. The cabinet office in Japan also cut its assessment of that nation's economic outlook for the first time in more than a year, citing the risk to exports from a U.S. downturn. European shares also fell in morning trading.

In corporate news, coffee retailer Starbucks (SBUX, Fortune 500) announced it would cut 600 positions, laying off 220 people at its headquarters and leaving 380 open positions unfilled as it faces weaker sales.

Speaking to reporters Thursday afternoon, Google (GOOG, Fortune 500) co-founder Sergey Brin called Microsoft's (MSFT, Fortune 500) takeover bid for Yahoo (YHOO, Fortune 500) an "unnerving" maneuver that threatens innovation on the Internet.