NEW YORK (CNNMoney.com) -- U.S. stocks were poised for a lackluster open Friday, as investors digested the latest results from Google, General Electric, Bank of America and Citigroup.
Dow Jones industrial average (INDU) futures were unchanged, while S&P 500 (SPX) and Nasdaq (COMP) futures were slightly higher.
Futures measure current index values against perceived future performance.
U.S. stocks ended little changed Thursday as worries about economic growth resurfaced, casting a shadow over the mostly positive start to the corporate reporting period.
Peter Cardillo, chief market economist for Avalon Partners, said that investors were focused on slow growth rather than the possibility of a recurrence of recession.
"I think the market is finally being convinced that we're not headed for a double-dip recession," he said. "You can have modest growth and you can still have corporate America growing earnings."
Going into the week's final session, the Dow is up more than 168 points, or 1.7%. The S&P 500 is also up 1.7% and the Nasdaq composite is 2.3% higher.
Earnings: General Electric (GE, Fortune 500) reported second-quarter earnings of 30 cents per share, higher than the 27 cents EPS forecast by a consensus of economists surveyed by Briefing.com. The company also reported $37.4 billion in revenue, which fell short of the $38.4 billion forecast by Briefing.com consensus.
GE shares slipped 1% in premarket trading.
Bank of America (BAC, Fortune 500) reported a second-quarter profit of $3.1 billion, surpassing Wall Street estimates. The company cited improving credit quality.
Bank of America shares fell 4% in premarket trading.
Citigroup (C, Fortune 500) managed to beat expectations, reporting a profit of $2.7 billion, or earnings of 9 cents per share. That compared to the 5 cents EPS forecast by a consensus of analysts surveyed by Briefing.com.
Citigroup shares fell near 2% in premarket trading.
Google (GOOG, Fortune 500) reported a sharp rise in profit after U.S. markets closed Thursday. But the online search giant's earnings fell short of Wall Street's estimates.
Google stock dropped more than 4% in premarket trading.
Economy: The government reported that the consumer price index slipped 0.1% in June, as expected in a Briefing.com consensus of economists' estimates. This follows a decline of 0.2% in May.
The core CPI, which excludes volatile food and energy prices, rose 0.2% in June, after edging up 0.1% in May. This is more than the increase of 0.1% that was forecast by economists.
Investors will also take in the University of Michigan's survey on consumer sentiment, due out at 9:55 a.m. ET.
World markets: European shares were higher in the early going. The DAX in Germany, France's CAC 40 and Britain's FTSE 100 all added less than 1%.
In Asia, Japan's Nikkei tumbled 2.9%. The Hang Seng in Hong Kong and the Shanghai Composite ended little changed.
Bonds, currency, oil, gold: The price of the 10-year bond edged up, pushing down the yield to 2.98%.
The dollar edged up versus the British pound, but slipped against the euro and the Japanese yen.
The price of oil slipped 11 cents to $76.51 per barrel, one day after BP announced that it had plugged the well in the Gulf of Mexico that has been leaking since April 20.
The price of gold fell $4 to $1,204.30 per ounce.
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| Overnight Avg Rate | Latest | Change | Last Week |
|---|---|---|---|
| 30 yr fixed | 3.80% | 3.80% | |
| 15 yr fixed | 3.09% | 3.11% | |
| 5/1 ARM | 2.65% | 2.69% | |
| 30 yr refi | 3.77% | 3.86% | |
| 15 yr refi | 3.09% | 3.21% |
Today's featured rates:
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 12,454.83 | -74.92 | -0.60% |
| Nasdaq | 2,837.53 | -1.85 | -0.07% |
| S&P 500 | 1,317.82 | -2.86 | -0.22% |
| Treasuries | 1.74 | -0.01 | -0.80% |
| Company | Price | Change | % Change |
|---|---|---|---|
| Bank of America Corp... | 7.15 | 0.01 | 0.14% |
| Sprint Nextel Corp | 2.62 | 0.09 | 3.56% |
| Cisco Systems Inc | 16.33 | -0.06 | -0.37% |
| Chesapeake Energy Co... | 15.81 | 0.23 | 1.48% |
| Ford Motor Co | 10.60 | 0.01 | 0.09% |
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