Investing.com - U.S. stock futures pointed to a slightly higher open on Friday, supported by data showing that China's economy accelerated for the first time in three quarters, although gains were limited by concerns over the economic effects of the two-week U.S. government shutdown.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.12% rise, S&P 500 futures signaled a 0.14% gain, while the Nasdaq 100 futures indicated a 0.42% climb.
Market sentiment found support after official data showed China gross domestic product grew by 7.8% in the third quarter, in line with expectations and up from 7.5% in the three months to June.
The data eased concerns over the strength of the recovery in the world's second-largest economy.
But investors remained cautious amid fears over the impact of the government shutdown on the already fragile economic recovery, which could prompt the Federal Reserve to delay plans for scaling back its stimulus program until at least the start of next year.
The possibility of another debt crisis also loomed, as the temporary debt ceiling agreement reached early Thursday does not resolve the underlying budgetary issues dividing Republicans and Democrats.
Google was expected to be active, as shares soared 8.35% in pre-market trade after the company reported third-quarter sales that beat analysts’ projections.
Also in earnings news, Chipotle Mexican Grill said late Thursday that profit rose 15% in the third quarter, sending shares up 7.84% in late trading.
On the downside, Intuitive Surgical dove 7.77% in late trading after the maker of surgical robots said third-quarter revenue dropped more than expected.
Elsewhere, Verizon Communications shares rallied 1.12% pre-market as Deutsche Bank upgraded the co-owner of the largest U.S. wireless carrier to "buy" from "hold". On Thursday, Verizon reported third-quarter profit that beat analysts’ estimates.
In the financial sector, JPMorgan Chase reportedly agreed to sell 1 Chase Manhattan Plaza, the tower built by David Rockefeller, to Fosun International, the investment arm of China’s biggest closely held industrial group, for USD725 million.
Other stocks likely to be in focus included General Electric, Schlumberger, Morgan Stanley and Honeywell, scheduled to report quarterly earnings later in the day.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 rose 0.25%, France’s CAC 40 gained 0.47%, Germany's DAX added 0.18%, while Britain's FTSE 100 advanced 0.31%.
During the Asian trading session, Hong Kong's Hang Seng Index rallied 1.06%, while Japan’s Nikkei 225 Index slipped 0.17%.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.12% rise, S&P 500 futures signaled a 0.14% gain, while the Nasdaq 100 futures indicated a 0.42% climb.
Market sentiment found support after official data showed China gross domestic product grew by 7.8% in the third quarter, in line with expectations and up from 7.5% in the three months to June.
The data eased concerns over the strength of the recovery in the world's second-largest economy.
But investors remained cautious amid fears over the impact of the government shutdown on the already fragile economic recovery, which could prompt the Federal Reserve to delay plans for scaling back its stimulus program until at least the start of next year.
The possibility of another debt crisis also loomed, as the temporary debt ceiling agreement reached early Thursday does not resolve the underlying budgetary issues dividing Republicans and Democrats.
Google was expected to be active, as shares soared 8.35% in pre-market trade after the company reported third-quarter sales that beat analysts’ projections.
Also in earnings news, Chipotle Mexican Grill said late Thursday that profit rose 15% in the third quarter, sending shares up 7.84% in late trading.
On the downside, Intuitive Surgical dove 7.77% in late trading after the maker of surgical robots said third-quarter revenue dropped more than expected.
Elsewhere, Verizon Communications shares rallied 1.12% pre-market as Deutsche Bank upgraded the co-owner of the largest U.S. wireless carrier to "buy" from "hold". On Thursday, Verizon reported third-quarter profit that beat analysts’ estimates.
In the financial sector, JPMorgan Chase reportedly agreed to sell 1 Chase Manhattan Plaza, the tower built by David Rockefeller, to Fosun International, the investment arm of China’s biggest closely held industrial group, for USD725 million.
Other stocks likely to be in focus included General Electric, Schlumberger, Morgan Stanley and Honeywell, scheduled to report quarterly earnings later in the day.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 rose 0.25%, France’s CAC 40 gained 0.47%, Germany's DAX added 0.18%, while Britain's FTSE 100 advanced 0.31%.
During the Asian trading session, Hong Kong's Hang Seng Index rallied 1.06%, while Japan’s Nikkei 225 Index slipped 0.17%.