U.S. stock futures added to earlier declines following the GDP report.
The government said GDP grew at an annual pace of 2.5% in the first quarter. That fell short of the 2.8% economists were predicting and up from a measly 0.4% in the fourth quarter of 2012.
Meanwhile, investors continue to parse through mixed earnings reports.
Chevron (Fortune 500) reported better-than-expected earnings, but revenue fell short of forecasts. ,
D.R. Horton's ( stock price surged in premarket trading after the home builder reported a near doubling of quarterly net income on Friday, riding the wave of the recovering housing market. )
Burger King Worldwide ( reported a slump in revenue, including same-store sales, but an increase in net income. )
Starbucks (Fortune 500) came under pressure after issuing downside guidance for the current quarter and reaffirming its revenue outlook for the year. ,
Amazon (Fortune 500) shares dipped after the online retailer reported a profit decline. ,
U.S. stocks closed slightly higher Thursday.
The Nikkei lost 0.3% after the Bank of Japan said it would maintain its stimulus program. A separate report showed prices fell 0.5% last month in Japan, underscoring the monumental task facing policymakers as they attempt to reverse 15 years of deflation.
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