Stock Futures Drift Near Record High, Earnings And Data In Focus

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U.S. stock index futures were little changed on Friday, with the S&P 500 slightly below its record high, as Amazon and Microsoft rallied after reporting results.

The U.S. Commerce Department releases durable goods orders for September at 8:30 a.m. EDT (1230 GMT). Economists in a Reuters survey expect a 2 percent rise compared with a 0.1 percent gain in August.

Also due Friday are October consumer sentiment data, at 9:55 a.m. (1355 GMT), and wholesale inventories for August, at 10:00 a.m. (1400 GMT).

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S&P 500 futures fell 1 point and were slightly below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures fell 5 points and Nasdaq 100 futures added 1 point.

Amazon (AMZN.O) shares gained 9 percent in premarket trading a day after the online retailer posted a narrower quarterly loss and grew sales by a better-than-expected 24 percent.

Microsoft Corp (MSFT.O) cruised past Wall Street estimates for quarterly profit and revenue Thursday, helped by strong sales of its Office and server software to businesses, sending its shares up 5.5 percent in premarket trading.

Zynga (ZNGA.O) said it expects a full-year profit after reporting better-than-expected third-quarter results due to cost-cutting and a renewed focus on mobile games and core franchises. Shares jumped 11.7 percent in premarket trading.

REUTERS

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