NEW YORK (TheStreet) -- Stock futures were little changed Friday as investors digested tepid durable goods orders against better-than-expected profits at shipping leader United Parcel Service (UPS) while awaiting consumer sentiment data.
Futures for the S&P 500 were down 1 point, or 1.13 points above fair value, to 1,747.5, with the benchmark index sitting near record highs on expectations of prolonged Federal Reserve support and amid a mixed earnings season that is still finding some top-line results wanting. Futures for the Dow Jones Industrial Average were falling by 7 points, or 4.79 points above fair value, to 15,447. Futures for the Nasdaq were up 7.3 points, or 24.08 points above fair value, to 3,378.3.
"It is now 518 days, and counting, but it still doesn't feel like a 10% correction is in the cards," Jeffrey Saut, a Florida-based chief investment strategist at Raymond James, said in a note. "Indeed, the stock market's best shot at such a correction was in the mid-July through mid-August timeframe, but the Putin Syrian Solution arrested the decline at about 5%. Still, I will say that my timing models are suggesting another window of vulnerability coming in the mid-November into the early December timeframe."
Procter & Gamble (PG) shares were down 0.45% to $80.25 after the consumer staples giant posted in-line fiscal first quarter earnings of $1.05 a share on revenue that narrowly topped expectations, and reiterated its fiscal 2014 guidance. CEO A.G. Lafley said that the company has "good market share momentum, a number of strong innovations coming to market over the balance of the year, and cost savings from productivity efforts that will continue to build."