Investing.com - U.S. stocks opened steady on Friday, as markets awaited the release of upcoming U.S. data, after a lower than expected U.S. economic growth data fuelled fresh concerns over the strength of the nation's recovery.
During early U.S. trade, the Dow Jones Industrial Average eased 0.08%, the S&P 500 inched up 0.02%, while the Nasdaq Composite index edged 0.17% higher.
Preliminary data showed that the U.S. gross domestic product rose 2.4% in the fourth quarter, slightly below expectations for a 2.5% expansion, after a 3.2% increase in the three months to September.
The report came a day after Federal Reserve Chair Janet Yellen on Thursday said the central bank will probably continue tapering its asset purchases while tracking data to figure how much recent softness in the economy is due to the weather.
Apple shares gained 0.40% after the iPhone maker won the dismissal of a $2.2 billion lawsuit in Germany over technology used to decide priority for calls in mobile networks.
Also in the tech sector, International Business Machines slipped 0.10% as the compay began dismissing U.S. workers on Thursday, in part of a $1 billion restructuring plan to help IBM meet profit goals.
Salesforce.com jumped 0.72% pre-market after the maker of customer-management software forecast fiscal first-quarter sales that may top analysts’ estimates.
PepsiCo eased up 0.06% after the company's board rejected activist investor Nelson Peltz's demand to split the firm's snacks and beverages units, supporting a stance taken by Chief Executive Officer Indra Nooyi.
Elsewhere, airline company United Continental Holdings plummeted 2.12% after saying winter storms that forced the cancellation of more than 22,500 flights will weigh on revenue this quarter.
Adding to losses, Citigroup saw shares drop 0.90% as the U.S. lender reduced its 2013 earnings by $235 million after discovering fraud in its Mexico unit.
Other stocks likely to be in focus included 3-D Systems, Liberty Media, Liberty Interactive, Pepco Holdings, Iron Mountain and Aqua America, scheduled to report quarterly earnings later in the day.
Across the Atlantic, European stock markets were mostly lower. The EURO STOXX 50 shed 0.36%, France’s CAC 40 fell 0.20%, Germany's DAX added 0.18%, while Britain's FTSE 100 dipped 0.02%.
During the Asian trading session, Hong Kong's Hang Seng Index eased up 0.04%, while Japan’s Nikkei 225 Index dropped 0.55%.
Later in the day, the U.S. was to release a report on manufacturing activity in the Chicago region, revised data on consumer sentiment and private sector data on pending home sales.