Microsoft higher in premarket, while eBay stumbles
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A record run for tech stocks was on the line Friday, as U.S. stock futures struggled for traction ahead of results from companies such as General Electric Co. and Honeywell International Inc.
EBay Inc. was under pressure ahead of the bell, while Microsoft Corp. shares were headed the other way in the wake of respective earnings for those companies.
Dow Jones Industrial Average futures were unchanged at 21,580, while S&P 500 index futures inched up 3 points, or 0.1%, to 2,474.25. Nasdaq-100 index futures slipped less than 1 point to 5,925.
On Thursday, the Dow Jones Industrial Average (http://www.marketwatch.com/story/wall-street-stocks-poised-to-hold-onto-record-run-ecb-meeting-in-the-spotlight-2017-07-20) slipped 0.1% to end at 21,611.78, dragged by losses for Home Depot Inc. (HD) after Sears Holdings Corp. (SHLD) said it would sell Kenmore-branded appliances on Amazon.com Inc. (AMZN) . The S&P 500 index shed 0.38 points to close at 2,473.45.
But the Nasdaq notched its 41st record close by settling 0.1% higher at 6,390. That marks its 10th straight winning session. The Nasdaq was on course to finish the week around 1.2% higher, with one session left to go. The S&P 500 is poised to rise 0.6%, but the Dow is looking at a modest loss of around 0.1%.
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Read:Opinion: Stocks are healthy enough to rally without tech (http://www.marketwatch.com/story/stocks-are-healthy-enough-to-rally-without-tech-2017-07-21)
With no economic data to focus on, investors will be keeping a keen eye on earnings to come on Friday.
Stocks to watch: General Electric(GE) , Honeywell(HON) , Colgate-Palmolive Co.(CL) and Schlumberger Ltd.(SLB) will all report ahead of the opening bell.
Microsoft(MSFT) shares were set to open at an all-time high on Friday, and were up 0.9% at $74.87 in premarket trade. Shares shot higher late Thursday after the software maker posted forecast-beating earnings.
Read:Microsoft rides huge tax benefit from failing at smartphones to big earnings beat (http://www.marketwatch.com/story/microsoft-rides-huge-tax-benefit-from-failing-at-smartphones-to-big-earnings-beat-2017-07-20)
EBay(EBAY) shares fell 3.6% premarket after the e-commerce group reported second-quarter earnings and sales that were in line with forecasts (http://www.marketwatch.com/story/ebay-lower-as-q2-earnings-sales-in-line-with-forecast-2017-07-20).
Visa Inc.(V) was up nearly 1% after earnings topped Wall Street estimates (http://www.marketwatch.com/story/visa-shares-tick-higher-after-earnings-top-street-estimate-2017-07-20) late Thursday.
Other markets: Asian markets cooled off Friday, taking a breather from recent gains. The Stoxx Europe 600 index (http://www.marketwatch.com/story/european-stocks-struggle-to-break-grip-of-stronger-euro-2017-07-21) was little changed, but struggling under the weight of a stronger currency.
The euro continued to climb against the dollar after European Central Bank President Mario Draghi's dovish comments on monetary policy were ignored by markets (http://www.marketwatch.com/story/euro-sits-at-2-year-high-as-hawkish-view-on-ecb-dominates-2017-07-21). Gold prices inched higher, and oil prices (http://www.marketwatch.com/story/oil-steadies-as-investors-wait-for-rig-data-opec-meeting-2017-07-21) were steady ahead of U.S. rig-count data from Baker Hughes due later.
Read:How OPEC committee's coming meeting could make or break oil prices (http://www.marketwatch.com/story/how-opec-committees-coming-meeting-could-make-or-break-oil-prices-2017-07-20)
(END) Dow Jones Newswires
July 21, 2017 06:10 ET (10:10 GMT)