REUTERS: Robust earnings from Google-owner Alphabet and Intel lifted U.S. stock index futures on Friday, as investors await data that is widely expected to show that the domestic economy grew at its slowest pace in over two years in the second quarter.
"We find ourselves in a position where traders seem to want bad news - it's like bad news is a good news scenario as long as the data is not devastating," said Craig Erlam, senior market analyst at Oanda in London. Alphabet Inc rose 8.6per cent after the company reported quarterly results that beat estimates and eased investors' concerns about growth challenges facing its Google advertising business.Fellow FAANG member Amazon.com Inc fell 1.3per cent after the online retailer reported its first profit miss in two years and said income would slump in the current quarter, as it ramps up spending on one-day delivery.
At 6:49 a.m. ET, Dow e-minis were up 86 points, or 0.32per cent. S&P 500 e-minis were up 10 points, or 0.33per cent and Nasdaq 100 e-minis were up 36.75 points, or 0.46per cent.