Mixed outlook for stocks

U.S. markets wary as oil hovers near $90; dollar keeps up slide vs. euro, but good results from Google has Nasdaq looking higher


NEW YORK (CNNMoney.com) -- U.S. stocks appeared poised for a mixed open Friday as oil prices hovering around $90 a barrel and further weakness in the dollar was balanced by another round of good tech earnings.

Oil prices crossed the key $90 a barrel benchmark for the first time in after-hours trading in New York Thursday. While prices had eased in electronic trading in Asia early Friday, they were still solidly above the $89 a barrel mark that was crossed for the first time Thursday, coming in at $89.81 a barrel.

In addition, the dollar hit yet another all time-low against the euro Friday, as the European currency bought $1.4319, surpassing the mark of $1.431 set just the day before. The greenback also was lower against the yen.

But futures were mixed as of 8:20 a.m. ET, with the blue chip S&P futures pointing lower while the tech heavy Nasdaq looked to open higher.

Nasdaq could get a lift from shares of Internet search leader Google (Charts, Fortune 500) surging 2.2 percent in pre-market trading Friday, after it reported a 46 percent jump in earnings and 57 percent gain in revenue, topping forecasts.

Advanced Micro Devices (Charts, Fortune 500), the nation's No. 2 PC and server chipmaker, reported a net loss, but said that excluding special charges it did better than analysts forecasts. Shares of AMD were little changed in pre-market trading.

In other earnings news, Dow component 3M (Charts, Fortune 500) reported slightly better than forecasted earnings Friday as it raised its full-year outlook. But revenue was a bit less than expected. Still, shared edged higher in pre-market trading.

But two other Dow components -- Caterpillar (Charts, Fortune 500) and Honeywell (Charts, Fortune 500), both reported earnings that fell short of forecasts, sending their shares lower ahead of the open. Honeywell did raise it earnings guidance in its report, which limited its share decline to 0.3 percent. But Caterpillar shares were off 1.9 percent on its disappointing results.

A fourth Dow component, McDonald's (Charts, Fortune 500) reported improved earnings from continuing operations that apparently met forecasts on slightly softer than expected revenue.

There are no major economic reports due Friday.

In other corporate news, eBay (Charts, Fortune 500) unit StubHub, an online ticket selling service, suffered a legal setback when it was forced to turn over the names of its customers who sold New England Patriots tickets to the team. Team rules bar reselling game tickets for a profit, and the team could possibly pull the postseason and ticket renewal rights of its 13,000 customers who used the service. Shares of eBay slid 0.5 percent in after-hours trading.

Asian markets tumbled in trading Friday, led by a 1.7 percent decline in Japan's Nikkei. Markets in Hong Kong were closed for a holiday. Major European indexes were also lower in early trading.

The rising price of oil, along with a huge profit drop at Bank of America, pressured U.S. stocks on Thursday. The blue-chip Dow finished the session a few points lower, although the tech-heavy Nasdaq managed a modest gain.

Fridaymarks the 20th anniversary of Black Monday, one of the biggest market crashes in history, when the Dow lost 22.6 percent in a single day. Top of page

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2012 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2012 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2012. All rights reserved. Most stock quote data provided by BATS.
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2012 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2012 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2012. All rights reserved. Most stock quote data provided by BATS.