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) -- Stock futures were pointing to a slightly lower open Friday after rallying a day earlier, with oil prices headed higher even amid a stronger dollar.

Futures for the

Dow Jones Industrial Average

were lower by 34 points, or 29 points below fair value, at 12,557. Futures for the

S&P 500

were down by nearly 4 points, or 4 points below fair value, at 1338, and


futures were losing 7 points, or 6 points below fair value.

Stocks settled with modest gains Thursday

as the buzz over



prevailed over tepid economic data.

European stocks were mixed on Friday on the back of the stable listing of commodities giant


and strength in the energy sector. The FTSE in the UK was rising 0.2%, and the DAX in Germany was losing 0.5%.

Asian markets closed mostly higher, with Hong Kong's Hang Seng rising 0.1% and India's Sensex gaining 1%.

Japan's Nikkei closed lower by 0.1%. Japan's Central Bank voted to maintain its monetary policy and refrained from additional stimulus even after the economy shrunk by a worse-than-expected 3.7% in the first quarter on an annualized basis.

In the U.S., there are no economic reports scheduled for release on Friday.

The July crude oil contract was gaining 35 cents to trade at $99.28 a barrel. The dollar was trading higher against a basket of currencies, with the dollar index up 0.4%.

Gold for June delivery was trading higher by $6.30 at $1,498.70 an ounce.

In stock news,

Barnes & Noble

(BKS) - Get Free Report

said late Thursday that it has received a bid


Liberty Media


that values its shares at $17 each in cash.

Shares were climbing 24% in premarket trading to $17.60.

Shares of


(GPS) - Get Free Report

were plunging 16% before the opening bell, after the

retailer slashed its earnings outlook for 2011

, citing higher product costs. The company now sees earnings of $1.40 to $1.50 a share for the year. On Feb. 24, Gap forecast a profit of $1.88 to $1.93 a share in 2011. The current average estimate of analysts polled by Thomson Reuters is for earnings of $1.83 a share.

(CRM) - Get Free Report

saw its shares climb 7% to $145.87 after

the cloud computing application developer beat Wall Street's expectations

for its first quarter and issued a forecast that was above analyst expectations.


(BP) - Get Free Report

said Friday it will be paid $1.065 billion by

Moex Offshore 2007

, which had a 10% interest in the blown-out Macondo well, to settle all claims between the companies related to the Gulf of Mexico oil spill. Shares were up 3% in premarket trading.

The benchmark 10-year Treasury was stronger by 5/32, weakening the yield to 3.154%.

--Written by Shanthi Bharatwaj in NewYork


Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.