U.S. stock futures shed their early morning gains, falling into the red before the opening bell on Wall Street. Stocks are coming off a three-day relief rally fueled by investor hopes President Trump would ease tariffs on China and keep Jerome Powell in his post as chairman of the Federal Reserve.

Stock index futures reversed course on Friday, as U.S.-China trade and President Donald Trump's tariff policies remained in focus . S&P 500 futures (SPX) -0.2%, Nasdaq 100 futures (US100:IND) -0.3%, and Dow futures (INDU) -0.

Stock futures were dropping Thursday, with investors still trying to make sense of the U.S.-China trade war after Chinese officials denied reports that the world's two largest economies have started tariff negotiations.