Futures on the three major U.S. stock indexes fell on Friday, reflecting a general pessimism about the economy and some disappointment with the earnings of General Electric, Bank of America and Citigroup.
At 9:15 a.m. EST, futures on the Dow Jones Industrial Average index fell 46 points to 10,246, while futures on the S&P 500 slid 4.6 points to 1,085.80. NASDAQ-100 contracts slipped as well, losing 3.5 points to 1,845.75.
Optimism early in the month about a positive earnings season and the pace of recovery has been tempered by weak employment and manufacturing figures. Although 19 of the 22 companies in the S&P 500 that have reported profits beat estimates, many traders remain more concerned about sluggish demand and stubbornly persistent unemployment.
Google disappointed on Friday morning, losing 5.2 percent to $468.31 per share as it missed profit forecasts for the first time in two years. The search engine giant says the last quarter was one of its most difficult ever.
One winner was Goldman Sachs, which surged 3.6 percent to trade at $150.40 per share, after the investment bank settled the suit brought against it by the Securities and Exchange Commission for $550 million – or 14 days of the company’s first-quarter profits.
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