NEW YORK (TheStreet) -- U.S. stock futures were pointing to the first dip in the broader market in three days. Investors took a breather, digesting some soft data out of Europe and awaiting next week's July job report, U.S. second-quarter GDP estimates, and the latest Federal Reserve policy update. The market remains optimistic on the second-quarter earnings outlook, steadily raising earnings growth predictions.
Futures for the S&P 500
Read More: Amazon.com Shares Plunge On Weak Earnings
Despite a handful of disappointments, including Amazon's (AMZN) earnings miss Thursday, S&P Capital IQ wrote that second-quarter S&P 500 earnings growth is now expected to come in at 8.1% year-over-year, with earnings per share of $29.11. That's up from the prior day's estimate of 7.3% year-over-year growth, with EPS of $28.89.
Amazon shares were plunging 9.96% to $322.89 in premarket trading after reporting Thursday evening quarterly results that were in line with revenue estimates but missed on earnings per share.