NEW YORK (
) -- Stock futures were pointing to a lower open Friday as the market digested signs of slowing global growth.
Futures for the
Dow Jones Industrial Average
were down by 24 points, or 27 points below fair value, at 12,020. Futures for the
were lower by 3 points, or 4 points below fair value, at 1280, and
futures were off by 5 points, or 9 points below fair value.
Stocks reversed their six-day losing streak Thursday as strength across agricultural and energy sectors helped offset disappointing initial jobless claims data.
Global stocks traded mostly lower after China's trade surplus in May came in lower than expected and British industrial production in April saw a steeper-than-projected decline.
The FTSE in London was declining 0.1%, while the DAX in Frankfurt was up by 0.1%. Japan's Nikkei added 0.5% while Hong Kong's Hang Seng shed 0.8%.
The Bureau of Labor Statistics said import and export prices each rose by 0.2% for May, after growth of 2.1% and 0.9%, respectively, in April. Import prices, excluding fuel, rose 0.4% in May, and export prices, excluding agriculture, gained 0.5%.
were rising 5.7% to $91.05 ahead of Friday's opening bell after the
athletic apparel company reported better-than-expected first-quarter earnings.
agreed to sell its global wire business to South Korean tire reinforcements company Hyosung for about $50 million. Goodyear's stock was adding 0.3% to $16.10 in early trading.
In its first outlook since the Japanese earthquake and tsunami in March,
expects earnings for the year ending in March 2012 to decline by 31%. Shares were shedding 0.2% to $81.80 during the premarket session.
were up 0.2% to $6.30 early Friday after the
mobile phone maker said it is talking to "multiple parties" about bidding for its stake in the Nokia Siemens Network joint venture.
in talks to buy display advertising company
for about $400 million, according to a
New York Times
report. Google's stock was ticking 0.03% lower to $516.58 ahead of Friday's opening bell.
delaying its initial public offering because of weak market conditions and impending fines related to its mortgage foreclose practices, according to a
At 2 p.m., the Treasury Department will issue its May report on the budget.
The July crude oil contract was shedding $1.04 to trade at $100.89 a barrel. Gold for August delivery was down by 30 cents at $1,542.40 an ounce.
The benchmark 10-year Treasury rose 9/32, diluting the yield to 2.967%. The dollar strengthened against a basket of currencies, with the dollar index up by 0.1%.
-- Written by Melinda Peer in New York
Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.