NEW YORK (TheStreet) -- Stock futures were setting up for further records on Friday, though only barely after disappointing industrial production data weighed on Wall Street.

S&P 500 futures were up 0.07%, Dow Jones Industrial Average futures climbed 0.04%, and Nasdaq futures added 0.19%.

Stocks rallied back to record levels on Thursday, helped by continued weakness in the U.S. dollar and as Treasury yields stabilized. The S&P 500 closed 3 points above a previous record, while the Dow hovered within 40 points of its high.

Industrial production remained weak in April, down 0.3% compared to an expected flat reading. The measure fell 0.6% in March. 

The Empire State manufacturing index moved into positive territory in May, but not by enough to satisfy expectations. Manufacturing conditions in New York rose to 3.1 from a negative reading of 1.2 in April, though the reading came in below estimates of 5.5.

"This was a constructive report as the rise back in expansionary territory is an important indication that the backsliding in activity may have ended," said TD Securities' Millan Mulraine in a note. "Nevertheless, with the index still languishing close to the zero mark, it suggests that growth momentum in the manufacturing sector has rebounded only marginally, which is a far cry from the spectacular bounce in activity seen last year."

Netflix (NFLX) could be taking its content to China. The streaming service is reportedly in talks with Shanghai-based BesTV New Media and Wasu Media Holding, a company backed by a group that includes Alibaba's (BABA) Jack Ma. Shares were up 3.2%.

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