Stock index futures fall, focus on GDP data

Friday, April 26th, 2013 | Finance News

LONDON (Reuters) - Stock index futures pointed to a lower open on Wall Street on Friday, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 falling 0.1 to 0.3 percent.

U.S. economic growth likely rebounded in the first quarter after almost stalling at the end of 2012 as Americans shrugged off higher taxes and stepped up spending, but the trend is likely temporary.

Japan will give the green light later on Friday for Boeing Co's 787 Dreamliner to resume flights, the transport minister said, allowing top customers Japan Airlines and All Nippon Airways to get the cutting-edge jet back in the air.

Thomson Reuters/University of Michigan Surveys of Consumers release final April consumer sentiment index at 1355 GMT. Economists expect a reading of 73.2, compared with 72.3 in the preliminary April report.

Samsung Electronics grabbed more smartphone market share from arch-rival Apple in the latest quarter, with sales of its phones jumping to account for one third of the global market.

Economic Cycle Research Institute releases its weekly index of economic activity for April 19 at 1430 GMT. In the prior week, the index read 130.6.

Weyerhaeuser Co reported $0.26 earnings per share in the first quarter, while sales were $2 billion. It increased quarterly dividend by 18 percent and said dividend was set at 20 cents per share.

Other companies announcing results include Chevron , Tyco International , D.R. Horton and Goodyear Tire & Rubber .

Amazon.com Inc's revenue growth slowed in the first quarter as the world's largest Internet retail struggled overseas, but margins jumped on lower shipping expenses and the expansion of more profitable new businesses.

AT&T Inc will kick off its home security and monitoring service in 15 U.S. markets on Friday, seeking to develop revenue streams beyond cellphone services.

Microsoft Corp came out on top in the first of two patent trials versus Google Inc's Motorola Mobility unit on Thursday, as a federal judge in Seattle ruled largely in its favor.

European shares fell 0.5 percent early on Friday, cooling after five straight sessions of gains, with some disappointing earnings weighing on indexes.

U.S. stocks rose on Thursday, lifted by stronger-than-expected earnings and a large drop in weekly jobless claims.

The Dow Jones industrial average <.dji> rose 24.50 points or 0.17 percent, to 14,700.80 at the close. The S&P 500 <.spx> gained 6.37 points or 0.40 percent, to 1,585.16. The Nasdaq Composite <.ixic> added 20.33 points or 0.62 percent, to close at 3,289.99.</.ixic></.spx></.dji>

(Reporting by Atul Prakash; Editing by Toby Chopra)

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