Stocks were set for a higher open Friday as Wall Street tried to regain its footing after a two-day selloff.
Futures on the
were up 2 points to 1309.60, about 5 points above fair value. Nasdaq 100 futures were adding a quarter-point to 1587 and were roughly 3 points ahead of fair value.
On Thursday, the
Dow Jones Industrial Average
lost 75 points, or 0.7%, and the S&P fell 6 points, or 0.5%. The
gave back more than 12, or 0.6%. Those declines came a day after worries about the economy drove the Dow down 63 points, the S&P lower by 13 points, and the Nasdaq to a loss of nearly 38 points.
The market was set to rise even as another homebuilder lowered its guidance, this time
. Already this week,
have issued warnings.
said it found more stock option irregularities, and the wireless chip company now expects its planned restatement to total at least $1.5 billion.
After the close Thursday,
said sluggish sales were the reason it missed its first-quarter financial goals and indicated that the weakness is continuing in the current quarter.
Shareholders of both
have voted in favor of the merger of the telecom-equipment providers. However, Lucent's holders weren't very enthusiastic, as just more than half gave their support.
The economic calendar is almost bare, with just a report on consumer credit from the
on the schedule.