European markets are rallying on Friday, but it looks like there is going to be some incredible volatility again following a rocky day for stocks. France's CAC 40 is up 1.58% Spain's IBEX is up 1.82% Italy's FTSE MIB is up 1.71% Britain's FTSE 100 is up 0.73% Germany's DAX is up 1.23% In Asia, Japan’s Nikkei closed down 1.40%. It’s now down 9.48% since the start of the year, one of the worst-performing indices in the advanced economies during 2014 so far. Hong Kong’s Hang Seng closed up 0.60%. US stock futures are climbing, with the S&P up 10.5 points and the Dow up 85 points. In Europe, construction output figures will be released at 5 a.m. ET. It's a fairly light day for data from the US, but Federal Reserve chair Janet Yellen will be speaking at 8:30 a.m. ET. Markets will be looking for any comment on the current volatility, or on the end of QE. US housing starts figures are also out at 8:30 a.m, with analysts expecting over a million units. Source: http://www.businessinsider.com/