NEW YORK (CNNMoney.com) -- U.S. stocks were set for a mixed open Friday following a disappointing reading on annual growth and after lawmakers finalized negotiations on the most sweeping financial reform since the New Deal.
Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were mixed ahead of the opening bell.
Futures measure current index values against perceived future performance.
Economic woes have worried investors all week. Stocks retreated Thursday, dragged lower by fears that the slowing pace of the economic recovery would hurt corporate results.
"It seems as though we have a case of buyers' exhaustion," said Mark Luschini, chief investment strategist at Janney Montgomery Scott. "The economic news hasn't been terrific lately, and this is just reinforcing the camp of people who believe the economy risks heading into a double dip [recession]."
Wall Street reform: After marathon talks that ended early Friday, lawmakers in the House and Senate finalized negotiations on a bill that would overhaul the financial system.
"This is clearly something that's been giving investors angst, and the [financial] sector is sizeable enough to make a real footprint on the market," said Luschini. "But how much of that was priced into yesterday's sell-off is hard to say."
The agreement on Wall Street reform could even spur a relief rally on Friday as investors finally gain clarity, he added.
Goldman Sachs (GS, Fortune 500), Morgan Stanley (MS, Fortune 500), Citigroup (C, Fortune 500) and Bank of America (BAC, Fortune 500) were all up more than 1% in pre-market trading.
Economy: Economic growth for the first three months of the year was revised lower, to an annual rate of 2.7% from the previous reading of 3%. Economists expected growth to remain unchanged at 3%.
The University of Michigan's final reading on consumer sentiment for June, due shortly after the opening bell, is expected to remain steady at 75.5.
World markets: Markets in Europe fell in morning trading. The FTSE 100 in Britain, the CAC 40 in France and Germany's DAX all posted losses.
Asian shares finished the session in negative territory. Japan's benchmark Nikkei index tumbled 1.9% and the Hang Seng in Hong Kong dipped 0.2%. The Shanghai Composite fell 0.5%.
Dollar and commodities: The dollar was up versus the euro, but down against the British pound and the Japanese yen.
U.S. light crude oil for August delivery rose 24 cents to $76.75 a barrel.
COMEX gold's August contract gained $5.80 to $1,251.80 per ounce.
Bonds: Treasury prices fell, pushing the yield on the 10-year note up to 3.16% from 3.12% on Thursday. Bond prices and yields move in opposite directions. 
| Overnight Avg Rate | Latest | Change | Last Week |
|---|---|---|---|
| 30 yr fixed | 3.80% | 3.88% | |
| 15 yr fixed | 3.20% | 3.23% | |
| 5/1 ARM | 3.84% | 3.88% | |
| 30 yr refi | 3.82% | 3.93% | |
| 15 yr refi | 3.20% | 3.23% |
Today's featured rates:
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 32,627.97 | -234.33 | -0.71% |
| Nasdaq | 13,215.24 | 99.07 | 0.76% |
| S&P 500 | 3,913.10 | -2.36 | -0.06% |
| Treasuries | 1.73 | 0.00 | 0.12% |
| Company | Price | Change | % Change |
|---|---|---|---|
| Ford Motor Co | 8.29 | 0.05 | 0.61% |
| Advanced Micro Devic... | 54.59 | 0.70 | 1.30% |
| Cisco Systems Inc | 47.49 | -2.44 | -4.89% |
| General Electric Co | 13.00 | -0.16 | -1.22% |
| Kraft Heinz Co | 27.84 | -2.20 | -7.32% |
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