US pre-open: Stocks seen muted as investors eye more earnings
US futures pointed to a muted open on Wall Street on Friday as investors braced for more earnings releases.
At 1220 BST, Dow Jones Industrial Average futures were flat, while S&P 500 and Nasdaq futures were 0.1% higher.
Oanda analyst Craig Erlam said: "We could be in for a relatively calm end to the week, which investors may welcome given how beneficial it has been over the course of the week.
"Today shouldn’t take anything away from what has been a decent week for equity markets, which have benefited greatly from the lack of noise around Syria or trade wars. The gradual improvement in sentiment has accompanied the lack of escalation on both these issues, something that will only be sustainable as long as it continues.
"Earnings season in the US is also helping matters with the financial sector in particular having reported some strong numbers for the first quarter. It’s likely to be a strong season of growth for earnings, aided considerably by Donald Trump’s tax reforms, the question now is whether other sectors can live up to or surpass the hefty expectations."
On the corporate front, General Electric, Honeywell and Schlumberger are all set to see active trading following the release of their quarterly earnings ahead of the bell.
Elsewhere, Pivotal Software was likely to be in focus as it's expected to start trading on the New York Stock Exchange later after pricing its initial public offering at $15 a share.
Semiconductor company Qualcomm could see its shares move after saying it will lay off 4% of its workforce as it looks to cut costs by around $1bn.
Meanwhile, Wells Fargo will be eyed following reports that US regulators are set to slap a $1bn fine on the bank for forcing customers into car insurance and charging mortgage borrowers unfair fees.
There are no major US data releases due, but Chicago Fed President Charles Evans will give a speech on current economic conditions and monetary policy to the Graaskamp Center Spring Board Conference later in the day.