NEW YORK (TheStreet) -- U.S. stock futures were pointing to a weaker open on Friday amid rising tensions in Ukraine. Premarket losers included Amazon (AMZN), Ford (F - Get Report) and Visa (V - Get Report).
- Dow Jones Industrial Average futures were down 59 points, or 61.65 points below fair value, to 16,372, S&P 500 futures were off 5.25 points, or 4.66 points below fair value, to 1,867.75, and Nasdaq futures were down 16.5 points, or 13.78 points below fair value, to 3,568.3.
- Amazon was off 4.16% after reporting first-quarter revenue of $19.74 billion, a 22.8% increase from the year-earlier quarter. Analysts expected revenue of $19.42 billion. Amazon forecast an operating loss for the second quarter as it continues to invest heavily both internationally and at home.
- Ford was down 2.14% after missing first-quarter earnings estimates by 6 cents at 25 cents a share.
- Visa was off 3.77% after it expresses caution about a slowdown in revenue growth in the current quarter.
- The final reading on the April University of Michigan Consumer Sentiment Index will be reported at 9:55 a.m. EDT. The consumer sentiment gauge is expected to see an uptick to 83 following the preliminary reading of 82.6. The Markit PMI Services Flash data for April will be released at 9:45 a.m.
- Ukraine is making the headlines on Friday following fatalities that resulted from a clash between Ukrainian forces and pro-Russia protestors. The surge in violence triggered concerns about Russia intervention, as Russia responded with new military exercises near the Ukrainian border shortly after the deadly clash. Simultaneously, the U.S. reasserted the possibility of carrying out harsher sanctions on Russia.
- Standard & Poor's Ratings Services slashed its rating on Russia to one notch above junk, factoring in large capital outflows in the first quarter. Russia's central bank hiked interest rates on Friday as it faces heightened inflation risks.
- Microsoft (MSFT) was rising 1.56% after reporting better-than-expected fiscal third-quarter earnings and in-line revenue amid a surge in Azure, Office 365 and Surface sales.
- Starbucks (SBUX) was adding on 1.56% after posting in-line fiscal second-quarter earnings on Thursday, helped by lower coffee costs, but revenue fell short of Wall Street's estimates.
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