Futures flat on mixed earnings, Fed policy uncertainty
U.S. stock index futures were little changed on Friday as investors digested a mixed bag of earnings reports, while awaiting more data for clues on the outlook for interest rates and the economy.
Wall Street closed lower on Thursday after disappointing quarterly reports from Tesla Inc (TSLA.O) and AT&T Inc (T.N) worsened an already downbeat mood in markets following weak economic data that fueled concerns of a U.S. recession.
Investors will focus on S&P Global’s flash purchasing managers’ indexes (PMI) at 9:45 a.m. ET (1345 GMT). The survey is expected to show the momentum in U.S. business activity cooled further in April.
U.S. stocks indexes have been rangebound this week as investors sought clues on how far the Federal Reserve could hike interest rates, while earnings signaled resilience in big banks but most regional lenders reported deposit outflows in the wake of a banking crisis last month.
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