Upbeat on Wall Street
Futures point to higher open after Google's profit surges, despite weak economy; Citi, Caterpillar earnings on deck.
LONDON (CNNMoney.com) -- Stock futures rose early Friday after Internet giant Google defied the economic slowdown and posted a hefty quarterly profit.
At 5:04 a.m. ET, Nasdaq and S&P futures were higher and indicating a positive start for Wall Street.
Google (GOOG, Fortune 500) reported a 30% jump in quarterly profit late Thursday. The company also reported a rise in its paid clicks, quieting fears of slowing growth. Paid clicks measure how often users click on text ads.
Google shares surged in after-hours trading Thursday.
Stocks finished mixed Thursday as investors weighed a string of earnings. Merrill Lynch disappointed investors with a big loss while IBM turned in a solid performance.
Investors are bracing for more pain in the financial sector. Citi (C, Fortune 500), a Dow component, is expected to post a steep quarterly loss and announce massive job cuts when it reports before the market open.
Caterpillar (CAT, Fortune 500), another stock in the Dow 30, also is due to post its quarterly results before the opening bell.
In global trade, Japan stocks extended their gains. Major markets in Europe also rose in early trading. 
