US open: Dow jumps over 100 points as consumer confidence hits five-month high

US stock were mostly in the black early on Friday, as investors digested better-than-expected consumer sentiment data and were jittery ahead of crunch talks over Greece's future at the weekend.

Just after 15:00 BST, the Dow Jones Industrial Average was up 103 points at 17,993, the S&P 500 was up five points at 2,106, while the Nasdaq fell three points to 5,108.

Greece set for 'make or break' talks

European stocks fell as investors looked to weekend negotiations between Greece and its creditors after the latest round of talks failed to yield an agreement, just days before Athens is due to repay its €1.6m debt to the International Monetary Fund.

"Under normal circumstances we should have seen the Greek debt discussion move onto next month’s repayment of €3.2bn back to the ECB," said IG's market analyst Alastair McCaig.

"This repayment is especially important as it is the ECB who have overseen the ELA payments to the Greek banks that now totals at just over €90bn."

Despite the worries over Greece, the euro was stable against the dollar, with the greenback broadly flat against the pound and climbed 0.2% against the yen, while gold futures fell 0.17% to $1,169.80.

Elsewhere, Asian stocks fell, with China's Shanghai Composite Index dropping 7.40% on concerns about overvaluation in the country's stock market.

Oil prices slid, with West Texas Intermediate losing 1.32% to $58.92 a barrel, while Brent shed 0.97% to $62.59 a barrel.

Consumer sentiment rises

Consumer sentiment rose to a final June reading of 96.1, reaching a five-month high after a decline in May, according to reports on the University of Michigan gauge.

Economists had expected the final June figure to match a preliminary result of 94.6.

In company news, Micron Technology tumbled 16.5% after the semi-conductor company reported a drop in third-quarter earnings late on Thursday.

In the wake of the results, analysts at Stifel Nicolaus, JP Morgan, Raymond James, Pacific Crest and Wells Fargo all cut their target prices on the stock.

Sportswear giant Nike rose 4.71% after posting better-than-expected fourth-quarter results.