Renewed concerns about the banking system appear to weigh on stocks, as the major index futures point to a sharply lower opening on Friday. Contagion fears have continued to weigh on banking stocks in Europe and the worries could aggravate following a spike in German financial services giant Deutsche Bank AG's (NYSE:DB) credit default swaps spiked.

Cues From Thursday's Trading:

Stocks experienced some volatility on Thursday, with the major averages opening higher and rising until late morning trading. The indices trimmed their gains and dropped to their intra-day lows by late trading, with the Dow Industrials...