U.S. Stock Futures Inch Higher Ahead of GDP Data







U.S. stock futures were slightly higher Friday as investors awaited the latest reading of fourth-quarter U.S. economic growth.

Over two hours before the start of trading, Dow Jones Industrial Average futures gained 27 points. The S&P 500 futures rose 2.7 points to 1165.40 and Nasdaq 100 futures gained 4.25 points to 1953.75. Changes in futures don't always accurately predict early market moves after the opening bell.

U.S. markets ended mixed Thursday after an early rally evaporated, as a strengthening dollar sapped gains in commodities and related shares, and further weak demand for Treasury notes also weighed. The Dow Jones Industrial Average closed up around five points, while the S&P 500 fell 1.99 points and the Nasdaq declined 1.35 points.

Investors will be focused Friday on revised fourth-quarter gross domestic product. Economists polled by MarketWatch expect growth to be cut to 5.7% from 5.9%.

Consumer sentiment for March from the University of Michigan will also be closely watched. Joseph LaVorgna, chief U.S. economist at Deutsche Bank, said consumer sentiment likely will lag other indicators of economic improvement until the labor market improves. "A sustained improvement in household attitudes generally does not occur until the unemployment rate enters a noticeable downtrend—something we expect to become more apparent over the next couple of months," he said in a note to clients.

The dollar lost ground against the euro, reversing gains from the previous session, when it hit a ten-month high against the European currency after euro-zone members announced a plan to support debt-burdened Greece, if needed, through bilateral loans and the International Monetary Fund. In recent trading, the euro was up 0.5% at $1.3376.

In commodities, oil prices edged higher, with the May-dated light crude contract gaining 41 cents at $80.94 a barrel in electronic trading.

European markets were subdued, with Germany's DAX 30 Index dipping 0.2%, while many Asian markets posted strong gains, with Japan's Nikkei 225 Average jumping 1.5%.