Stock futures were higher Friday after the U.S. economy slowed in the fourth quarter, though not as badly as some feared. 

S&P 500 futures added 0.7%, Dow Jones Industrial Average futures climbed 0.8%, and Nasdaq futures moved 0.5% higher.

The U.S. economy grew 0.7% in the fourth quarter, down from 2% in the third quarter, according to the first estimate of GDP. Growth slowed as warmer weather hit the retail sector and businesses worked through excess inventory. Economists expected the economy to have expanded 0.8% over the quarter, though some feared the U.S. could have fallen into contraction. 

The Bank of Japan adopted negative interest rates for the first time in history in order to jumpstart its flagging economy. A negative rate of 0.1% will apply to excess reserves at its central bank in order to encourage commercial banks to lend more. The stimulus will be in place for "as long as it is necessary." Japan is the world's third-largest economy.

Global markets rallied on the surprise move. Japan's Nikkei jumped 2.8%, Hong Kong's Hang Seng rose 2.7%, the CAC 40 in France added 0.6%, and the FTSE 100 in London climbed 1.2%.

Microsoft (MSFT) - Get Report jumped nearly 7% after breezing past analysts' estimates in its recent quarter. The tech giant earned an adjusted 78 cents a share in its second quarter, 7 cents above expectations. Sales growth was driven by a 5% increase in cloud-services revenue. 

Amazon (AMZN) - Get Report was 10% lower after its quarterly results fell far below estimates. The e-commerce giant earned $1 a share over the quarter, widely missing forecasts of $1.55. Amazon said operating costs jumped 20%, partly from expanding its Fulfillment by Amazon service for third-party sellers during the busy holiday season.

Electronic Arts (EA) - Get Report slid 7% on weaker revenue in its third quarter. Sales fell 5% to $1.07 billion despite strong results for its Star Wars Battlefront game. The video-game developer also issued weaker fourth quarter guidance with forecasts for earnings of 40 cents a share coming in a dime below consensus. 

Visa (V) - Get Report rose 1% after surpassing estimates in its first quarter thanks to growth in payments volume. The credit-card company reported adjusted earnings 10% higher than a year earlier. However, Visa did warn that full-year results would likely get hit by "subdued domestic activity."

Xerox (XRX) - Get Report  increased 1% following confirmation the company plans to separate its document technology and services businesses into two entities. The company said the decision had little to do with activist investor Carl Icahn as previous reports had suggested, though Icahn will get three seats on the services company's board, according to The Wall Street Journal. Icahn holds a stake of more than 8% in the printer company.