By Anora Mahmudova and Carla Mozee, MarketWatch
NEW YORK (MarketWatch) -- U.S. stock futures were higher on
Friday but the buying mood was tepid after global anxiety helped
contribute to some of the sharpest declines in two months.
The reaction to the final reading on U.S. gross domestic product
was subdued, as data came in mostly in line with expectations. The
U.S. economy grew at its fastest pace in the second quarter since
the Great Recession.
Futures for the Dow Jones Industrial Average (DJZ4) were up 36
points, or 0.2%, to 16,940, while those for the S&P 500 index
(SPZ4) rose 1.2 points, or 0.1%, to 1,964.30. Nasdaq-100 index
futures (NDZ4) were up 8 points, or 0.2%, to 4,015.50.
Data: The U.S. economy grew at a 4.6% annual pace in the second
quarter, matching the best performance since the recession ended in
mid-2009. The increase in real gross domestic product was revised
up from 4.2%, mainly because of higher exports and business
investment, the Commerce Department said Friday.
The biggest gains came in business investment, a good sign for
the economy in the months ahead.
At 9:55 a.m. Eastern, the final print of University of Michigan
consumer confidence may dip from a preliminary reading of 84.6.
Economists polled by MarketWatch forecast a 84.3 reading.
Apple Inc. shares (AAPL) rose 1% ahead of the opening bell. They
dropped nearly 4% on Thursday as the company tried to calm concerns
about its new iPhone 6 Plus bending claims.
Apple's product woes added to the overall Thursday selloff on
Wall Street. Both the S&P 500 (SPX) and Dow (DJI) suffered
their biggest drops since July 31, and the Nasdaq Composite (RIXF)
fell 1.9%. The benchmarks are each on track for weekly losses of at
least 1.9%.
Stocks to watch:
Nike (NKE) shares jumped 7.7% before the bell after the athletic
apparel and gear maker late Thursday posted better-than-expected
quarterly earnings.
BlackBerry (RIMM) shares climbed 5% in premarket trade after the
Canadian smartphone maker's narrower-than-expected fiscal
second-quarter loss offset a miss in sales.
Finish Line (FINL) reported that its profit fell 1.3%, hampered
by rising expenses. Shares sank 11%.
Chiquita Brands International (CQB) and Fyffes PLC agreed to
revised terms of a merger plan under which Chiquita would have a
greater share of the combined company.
Chip maker Micron (MU) gained 7.8% before the open after
fourth-quarter results topped Wall Street's estimates late
Thursday.
Other markets: Overnight, Australia's S&P/ASX 200 erased its
gains for the year, keying off Wall Street's selloff and a slump in
iron-ore prices. European stocks were higher, but major benchmarks
were still on track for weekly losses.
Gold futures (GCZ4) turned down nearly $3 an ounce while oil
futures(CLX4) headed slightly higher.
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