It could be a flat Friday on U.S. markets as investors await more corporate earnings and look to consolidate recent gains.
U.S. futures edged lower, and world markets were mostly weaker. The tech-heavy Nasdaq bucked the trend with a modest rise.
The subdued start comes as traders eye the next batch of third quarter earnings, with UPS and Procter & Gamble up before the opening bell.
It’s a relatively light day for economic news. The Census Bureau will release its durable goods orders at 8:30 a.m. ET, while the University of Michigan and Thomson Reuters issue their consumer sentiment survey at 9:55.
Despite the tepid start, major U.S. indexes remain on course for weekly gains. Upbeat earnings reports, along with hopes that the Federal Reserve will delay winding back its massive bond-buying program, have helped buoy stocks.
U.S. stocks finished higher Thursday. Microsoft shares rose 5.4% in after-hours trading after the company reported a rise in quarterly sales and profits that trounced Wall Street’s forecasts. Shares of Amazon and Zynga also jumped after sales and earnings reports beat expectations.
Twitter revealed that it plans to raise upwards of $1.4 billion in its initial public offering, selling 70 million shares at between $17 and $20 per share.
European markets were mostly weaker in morning trading, though the FTSE 100 index edged higher after the U.K.’s third quarter GDP report met expectations.
Stocks in Asia were hit by a weaker yen and concerns over tighter liquidity in China. Japan’s Nikkei declined 2.8%, while the Shanghai Composite and Hang Seng also closed lower.
