Futures slightly higher, economy in focus
U.S. stock index futures were slightly higher on Friday as investors looked ahead to a raft of data, including economic growth, homes sales and manufacturing after a disappointing week so far for the economy.
The Commerce Dept will release its second estimate of fourth-quarter gross domestic product at 8:30 a.m. (1330 GMT). Economists forecast 5.7 percent annualized growth, matching the advance estimate for fourth-quarter GDP.
At 10:00 a.m. EST (1500 GMT), the National Association of Realtors releases existing home sales for January. Economists in a Reuters survey forecast a total of 5.50 million annualized units versus 5.45 million annualized units in December.
The Institute for Supply Management-New York releases the February index of regional business activity at 8:30 a.m. (1330 GMT), while the ISM Chicago February index of manufacturing activity in the Midwest is due at 9:45 a.m. (1445 GMT).
Reuters/University of Michigan Surveys of Consumers will release the final February consumer sentiment index at 9:45 a.m. (1455 GMT). Economists in a Reuters survey expect a reading of 74.0 compared with 74.4 in the final January report.
S&P 500 futures rose 2.3 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures rose 26 points, and Nasdaq 100 futures up 2.5 points.
Heavy snowfall and high winds in much of the Northeastern United States disrupted traffic, making it hard for commuters to get to work. Some brokerages said their staff were being delayed by the storm.
The FTSEurofirst 300 <.FTEU3> index of top European shares was up 0.6 percent after falling 1.7 percent on Thursday, on worries about Greece's debt and weak U.S. economic data.
Japan's Nikkei average <.N225> rose 0.2 percent, with stronger-than-expected domestic output helping counter investor jitters after the global economy.
U.S. stocks recovered most of their losses but still ended lower Thursday as weak employment and durable goods data added to recent worries about the strength of the recovery.
(Reporting by Edward Krudy; editing by Jeffrey Benkoe)
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