US pre-open: Futures in the red as earnings heavy week nears its end

Wall Street futures were trading lower ahead of the bell on Friday as a week of earnings gets set to draw to a close.

As of 1200 BST, Dow Jones futures were down 0.10%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.18% and 0.31% softer, respectively.

The Dow closed 110.39 points lower on Friday as data revealed jobless claims had risen more than expected to 245,000 and that manufacturing activity in the Philadelphia region had contracted even further than originally thought.

Interactive Investors' Richard Hunter said: "Mixed company earnings and softening economic data are keeping a lid on sentiment, as investors ponder the timing and depth of a potential recession.

"Against extremely low expectations, most companies have beaten earnings estimates, although next week will provide another acid test. A whole raft of earnings are expected from the likes of Amazon, Alphabet, Meta, Microsoft, McDonald’s, General Motors, Exxon Mobil and Chevron."

On the macro front, flash readings of S&P Global's manufacturing, services, and composite PMIs will be published at 1445 BST, while Federal Reserve governor Lisa Cook will deliver a speech at 2135 BST.

In the corporate space, Procter & Gamble will report earnings on Friday.

Reporting by Iain Gilbert at Sharecast.com