Look out below!
Shares in Amazon are set to take a dive, and the overall market looks set to drift lower.
Here are the four things you need to know before the opening bell rings in New York:
1. Amazon disappoints: Investors are getting fed up with the constant stream of losses at Amazon (Tech30). Shares in the online retailer fell by about 10% premarket after the company reported a loss of $437 million in the last quarter, even though revenue was up 20%. ,
2. Market moves: U.S. stock futures were edging lower ahead of the start of trading after stock markets rallied the previous session. On Thursday, the Dow Jones industrial average jumped by 1.3%, the Nasdaq rose by 1.6% and the S&P 500 added 1.2%.
3. Earnings: The flow of quarterly results continues into Friday. Ford (, )Bristol-Myers (, )Shire (, )Colgate-Palmolive ( and )Procter & Gamble ( are all set to report ahead of the open. )
4. Economics: The U.S. Census Bureau will release monthly data on new home sales for September.
In the U.K., preliminary data show the British economy slowed a bit in the third quarter compared to the second. GDP grew by 0.7%, which was roughly in line with expectations, and by 3% over the same period last year.