NEW YORK (TheStreet) -- U.S. stock futures were pointing to a higher open on Friday after two consecutive losing sessions for the major equity indices, getting a lift from Hewlett-Packard's (HPQ) promising earnings.
Futures for the Dow Jones Industrial Average were gaining 72 points, or 0.52%, at 13,944. Futures for the S&P 500 were adding 8 points, or 0.53%, to 1509. Nasdaq futures were tacking on 14 points, or 0.5% with a fair value of 2728.
Hewlett-Packard reported Thursday a profit of 82 cents a share on revenue of $28.4 billion. Analysts predicted the tech company would post earnings of 71 cents a share on revenue of $27.79 billion during its fiscal first quarter.
HP said its outlook for the second quarter was for profit of 80 cents to 82 cents a share, and full-year earnings of $3.40 to $3.60 a share, higher than Wall Street's estimate of $3.32. Shares were up more than 5% in premarket action Friday.
No major economic reports were due out on Friday. Federal Reserve Gov. Jerome Powell and Boston Fed President Eric Rosengren were expected to speak at a monetary policy forum at the Grand Hyatt in New York on Friday. Stocks slumped on Thursday after jobless claims rose more than expected and general business conditions came in soft. The early part of Thursday's session showed that equities continued to reel from the minutes of the Fed's January meeting, as it suggested central bankers were growing more open to scaling back quantitative easing measures in 2013. Global markets were rebounding on Friday. The FTSE 100 in London was increasing 0.76%, and the DAX in Frankfurt was rising 1.1%. Asian markets closed mixed on Friday. Japan's Nikkei average closed up 0.68% at 11386. Hong Kong's Hang Seng slid 0.54% to 22,782. Gold futures for April delivery were sliding $2.90 to $1,575.70 an ounce at the Comex division of the New York Mercantile Exchange, while futures for April crude oil contracts were adding 25 cents to $93.09 a barrel.Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
