Updated from 7:58 a.m. EDT
Premarket futures were hinting at a lower open for U.S. stocks Friday as the threat of a hurricane in the Gulf of Mexico prompted an increase in the price of crude oil.
Technology shares were suffering after a quarterly loss from PC maker
Futures for the
were 1.3 points lower at 1297 and were 3.7 points below fair value.
futures were down 3 points at 1903 and were 15 points short of fair value.
On Thursday, the three major indices posted solid gains following an upward revision of the government's estimates for second-quarter GDP growth, a decline in weekly jobless claims and softening crude-oil prices.
After the close that day,
its earnings dropped 17% year over year, sending shares on a 10% decline on the news.
Elsewhere in technology, software titan
said it would buy Greenfield Online for $486 million as part of a plan to bolster its online-services business.
In commodities news, the price of crude oil was up $1.31 to $116.90 a barrel. Fear of devastation by Gustav, a storm heading toward the Gulf of Mexico, was prompting companies such as
to press ahead with evacuations of some area refineries.
As for economic data, traders will get a look at July personal income and consumption numbers from the Department of Commerce, as well as the Chicago purchasing managers' regional survey for August and the University of Michigan's consumer sentiment index.
Longer-dated U.S. Treasury securities were edging lower. The 10-year was off 2/32 in price, yielding 3.79%, and the 30-year was losing 1/32 to yield 4.38%. The dollar was losing ground vs. the euro and yen but was flat against the pound. Gold was adding $5 to $842.20 an ounce.
Global markets were mostly looking strong, as the FTSE in London, the Dax in Frankfurt, the Nikkei in Japan and the Hang Seng in Hong Kong were all higher.