Investing.com – U.S. futures pointed to a weak open on Friday after closing on a strong note on Thursday as investors digest a flurry of economic data and wait the latest batch of corporate earnings.
The S&P 500 futures fell two and a half points or 0.09% as of 6:43 AM ET (11:43 AM GMT) while Dow futures slipped 21 points or 0.09%. Meanwhile tech heavy Nasdaq 100 futures decreased five points or 0.09%.
Luxury car maker Tesla (NASDAQ:TSLA) was among the top gainers in pre-market trading, rising 1.76% after it unveiled the first electric semi truck. Payment processing firm Square (NYSE:SQ) increased 1.55% after it introduced a Bitcoin buying option on its platform while General Electric (NYSE:GE) gained 0.60%
Elsewhere retail firm Williams-Sonoma Inc (NYSE:WSM) slipped 11.35% after it bought a 3D-imaging and augmented reality startup. Commodity firms were also hurt, with mining firm BHP Billiton (LON:BLT) falling 1.23% and steel producer Arcelormittal (AS:MT) down 1.03%.
In earnings, Abercrombie & Fitch Company (NYSE:ANF) and Foot Locker Inc (NYSE:FL) are expected to release their financial results on Friday. Meanwhile housing starts and building permits are set for 8:30 AM ET (1:30 PM GMT) followed by the Kansas City Fed manufacturing survey at 11:00 AM ET (4:00 PM GMT).
Investors will also be watching for news of progress on the tax reform bill. The House passed its version of the bill on Thursday, with 227 votes for and 205 votes against. The Senate finance committee is expected to vote on the bill on Friday. If passed as is, the corporate tax rate will be cut to 20% from 35%.
Stocks in Europe were mixed. Germany’s DAX rose 13 points or 0.11% while in France the CAC 40 increased four points or 0.08% and in London, the FTSE 100 inched forward four points or 0.07%. Meanwhile the pan-European Euro Stoxx 50 rose just over one and a half points or 0.05% while Spain’s IBEX 35 fell 43 points or 0.43%.
In commodities, gold futures rose 0.40% to $1,283.26 a troy ounce while crude oil futures were up 1.52% to $55.98 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, slipped 0.22% to 93.63.