NEW YORK (CNN/Money) - More weak retail sales hit stock futures in early trading Friday

U.S. stock futures were down in early trading, indicating a lower opening for stocks, even as oil prices turned lower in early trading.

On Tuesday, weak results from No. 1 retailer Wal-Mart Stores (Research) sent stocks down sharply, and that effect appeared to be repeating itself Thursday after speciality Limited (Research) saw profits fall and gave lower than forecasted earnings guidance for the rest of the year. Teen retailer Hot Topic (Research) also posted disappointing results.

Wal-Mart had blamed its disappointing results on high gasoline prices, and even with a slight drop in oil Thursday, oil is one of the factors fueling investor worries, said Art Hogan, chief market analyst at Jefferies & Co.

"Energy remains stubbornly high, there's a sense that the Fed is going to be on this task longer than had been hoped," he said. "You're seeing energy prices having an effect on discretionary spending, and that's going to affect investor psychology."

The September light crude futures contract for NYMEX slipped 5 cents to $63.20 a barrel in electronic trading early Thursday, while the October contract for Brent crude rose 5 cents to $62.61.

Even the modest decline in oil probably was a disappointment to some stock investors.

"I think a lot of people thought that there was going to be follow through (on lower oil prices)," said Mike Hinman, senior market strategist with Refco PCG in Chicago. "Since we didn't get a follow through, people are taking a negative view of stocks this morning."

Major markets in Asia closed mixed Thursday. Major European markets were lower in early trading.

Treasury prices were higher, cutting the yield on the 10-year note to 4.23 percent from the 4.27 percent level late Wednesday. The dollar gained ground against the euro and the yen.

For a more detailed look at the markets before the open, click here.