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%.

King Digital Entertainment (KING), creator of popular mobile game Candy Crush, tumbled more than 10% in premarket trading after warning that foreign currency exchange could hurt its results later in the year. 

Avon Products (AVP) slipped before the bell as investors continue to take back gains after a rally on Thursday. The beauty company surged following a bizarre hoax in which a Securities and Exchange Commission filing said Avon received a generous buyout offer from a company that doesn't appear to exist. Click here for more.

Deere (DE) fell after receiving a downgrade to "underweight" from Morgan Stanley. Analysts said the industry was in "dire straits with the potential for a liquidity crunch for farmers into 2016."

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