Investing.com - U.S. stock futures pointed to a lower open on Friday, ahead of the release of U.S. data later in the day, as mounting U.S. budget concerns and uncertainty over the future of the Federal Reserve's asset purchases weighed.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.35% loss, S&P 500 futures signaled a 0.45% drop, while the Nasdaq 100 futures indicated a 0.37% decline.
U.S. budget concerns persisted after Republican leaders in the U.S. House of Representatives refused on Thursday to give in to President Barack Obama's demand for straightforward bills to run the government beyond September 30 and to increase borrowing authority to avoid a default.
Congress must reach an agreement on the budged debate before October 1 to prevent a government shutdown that could involve federal employees facing unpaid temporary leave and a delay in the payment of military personnel.
Separately, investors remained cautious amid ongoing uncertainty over whether the Fed will soon begin taperints bond-buying program. Three top Fed officials said on Thursday the central bank had confused markets over its policy outlook.
Facebook was likely to remain in focus after rising above USD50 a share for the first time on Thursday, boosted by a series of analysts upgrades. Shares in the social-networking giant climbed 0.89% in pre-market trade.
The tech sector was also expected to be active, following reports Apple CEO Tim Cook and investor Carl Icahn are scheduled to meet in New York City next Monday to discuss the company's prospects.
In August, Icahn expressed interest in Apple's massive share buyback in a Tweet before adding that he had purchased "quite a bit" of Apple stock.
Intel slipped 0.21% in early trading said it is now seeking partnerships to jumpstart its planned Web-based television service.
Elsewhere, JCPenney plunged 5.95% after saying on Thursday that it is seeking to raise as much as USD1 billion in new equity to build up cash reserves ahead of the holiday season.
Other stocks likely to remain in focus included BlackBerry, scheduled to report quarterly earnings later in the day.
Across the Atlantic, European stock markets were lower. The EURO STOXX 50 slid 0.33%, France’s CAC 40 shed 0.30%, Germany's DAX retreated 0.35%, while Britain's FTSE 100 declined 0.56%.
During the Asian trading session, Hong Kong's Hang Seng Index gained 0.35%, while Japan’s Nikkei 225 Index fell 0.26%.
Later in the day, the U.S. was to release revised data on consumer sentiment and inflation expectations from the University of Michigan, as well as data on personal income and expenditure.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.35% loss, S&P 500 futures signaled a 0.45% drop, while the Nasdaq 100 futures indicated a 0.37% decline.
U.S. budget concerns persisted after Republican leaders in the U.S. House of Representatives refused on Thursday to give in to President Barack Obama's demand for straightforward bills to run the government beyond September 30 and to increase borrowing authority to avoid a default.
Congress must reach an agreement on the budged debate before October 1 to prevent a government shutdown that could involve federal employees facing unpaid temporary leave and a delay in the payment of military personnel.
Separately, investors remained cautious amid ongoing uncertainty over whether the Fed will soon begin taperints bond-buying program. Three top Fed officials said on Thursday the central bank had confused markets over its policy outlook.
Facebook was likely to remain in focus after rising above USD50 a share for the first time on Thursday, boosted by a series of analysts upgrades. Shares in the social-networking giant climbed 0.89% in pre-market trade.
The tech sector was also expected to be active, following reports Apple CEO Tim Cook and investor Carl Icahn are scheduled to meet in New York City next Monday to discuss the company's prospects.
In August, Icahn expressed interest in Apple's massive share buyback in a Tweet before adding that he had purchased "quite a bit" of Apple stock.
Intel slipped 0.21% in early trading said it is now seeking partnerships to jumpstart its planned Web-based television service.
Elsewhere, JCPenney plunged 5.95% after saying on Thursday that it is seeking to raise as much as USD1 billion in new equity to build up cash reserves ahead of the holiday season.
Other stocks likely to remain in focus included BlackBerry, scheduled to report quarterly earnings later in the day.
Across the Atlantic, European stock markets were lower. The EURO STOXX 50 slid 0.33%, France’s CAC 40 shed 0.30%, Germany's DAX retreated 0.35%, while Britain's FTSE 100 declined 0.56%.
During the Asian trading session, Hong Kong's Hang Seng Index gained 0.35%, while Japan’s Nikkei 225 Index fell 0.26%.
Later in the day, the U.S. was to release revised data on consumer sentiment and inflation expectations from the University of Michigan, as well as data on personal income and expenditure.