NEW YORK ( TheStreet) -- Stock futures pointed to a stronger open Friday, the morning after Google ( GOOG) reported better-than-expected earnings, and as General Electric ( GE) soared past estimates. Futures for the Dow Jones Industrial Average were up by 31 points, or more than 31 points above fair value, at 11,805. Futures for the S&P 500 were higher by 5 points, or 4 points above fair value, at 1281, and Nasdaq futures were ahead by 7 points, or 4 points above fair value. Concerns that tightening measures across emerging markets could derail global growth pressured stocks during Thursday's session despite a larger-than-expected decrease in initial weekly jobless claims. Late Thursday,
Google delivered better-than-expected earnings and said it would replace CEO Eric Schmidt with co-founder Larry Page. The stock was up 1.6% at $637 in premarket trading. Shares of General Electric were trading 2.1% higher at $18.82 ahead of Friday's opening bell, after the company beat analysts' estimates on the top and bottom line with earnings of 36 cents on sales of $41.1 billion. Wall Street had been expecting earnings of 32 cents a share on sales of $39.9 billion. Bank of America ( BAC) reported a $1.2 billion loss on a $2 billion goodwill charge. The bank said earnings, excluding one-time items, were 4 cents a share, compared with the profit of 14 cents a share that analysts had been expecting. Revenue came in at $22.4 billion, including charges. Market estimates had been for revenue of $24.9 billion. The stock was down 1.2% at $14.36 in early trading. Oilfield services company Schlumberger ( SLB) topped analysts' estimates with adjusted fourth-quarter earnings of 85 cents a share and sales of $9.07 billion. Analysts had been looking for a profit of 77 cents a share on sales of $8.7 billion. The stock was climbing 1.8% to $86.80 in early trading. Hewlett-Packard ( HPQ) named five new members to its board of directors late Thursday, bringing its total number of board members to 13. Among the new directors is Meg Whitman, former president and CEO of eBay ( EBAY). Hong Kong's Hang Seng slipped 0.5 and Japan's Nikkei declined 1.6%. London's FTSE was gaining 0.8% and the DAX in Frankfurt was ahead by 0.7%. There are no economic releases scheduled for Friday's session.
In commodity markets, the March crude oil contract was trading 43 cents higher at $90.02 a barrel. The February gold contract was down by $4.10 to trade at $1,342.40 an ounce. The dollar weakened against a basket of currencies with the dollar index down by 0.3%. The benchmark 10-year Treasury note rose 5/32, diluting the yield to 3.438%.
. --Written by Melinda Peer in New York.