Stocks in Holding Pattern

Futures for blue chips and tech shares suggest traders are ready for a pause.
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With the

Dow Jones Industrial Average

already in record territory and threatening to cross 12,000, traders appear to want a bit more evidence for betting on blue chips before they'll push the index to another milestone.

Futures were pointing to a neutral open in the New York sessions Friday, a day after the Dow finished above 11,900 for the first time ever, led by gains in

McDonald's

(MCD) - Get Report

,

Microsoft

(MSFT) - Get Report

and

Hewlett-Packard

(HPQ) - Get Report

.

S&P 500

futures were down 0.8 points to 1369.90 and were in line with fair value. Nasdaq 100 futures were slipping 1 point to 1731.75 and were less than a point beneath fair value.

On Thursday, the industrials continued to make history, rising 95.57 points, or 0.81%, to 11,947.70. Of the 30 stocks on the index, 21 advanced. The S&P 500 rose 12.88 points, or 0.95%, to 1362.83, its best level in nearly six years, and the

Nasdaq Composite

was up 37.91 points, or 1.64%, at 2346.18.

Ahead of the last session of the week, the story of the morning was

General Electric

(GE) - Get Report

, whose third-quarter earnings edged past Wall Street's targets. Guidance from the conglomerate was in line with estimates for the year.

GE made $5.06 billion, or 49 cents a share, from continuing operations for the quarter ended Sept. 30, up from $4.59 billion, or 43 cents a share, last year. Sales rose 12% year over year to $40.86 billion.

Earnings season started this week with reports from the likes of

Alcoa

(AA) - Get Report

and

Genentech

(DNA)

, and next week the pace of profit reports will quicken considerably.

To view Farnoosh Torabi's video take on today's market, click here