Futures flat as China data gloom overshadows upbeat earnings

REUTERS: U.S. stock index futures were little changed on Friday, as better-than-expected earnings reports were overshadowed by fresh jitters about the global economy after economic data from China revealed growth slowed to its weakest pace in almost 30 years.

Oilfield services provider Schlumberger NV also gained 1.8per cent following a quarterly profit beat. But the gains could be short-lived as analysts see third-quarter S&P 500 earnings falling by 2.9per cent, according to Refinitiv data, marking the first contraction since mid-2016.Wall Street investors took comfort in the string of corporate earnings beats and encouraging geopolitical developments on Thursday, which soothed some concerns about a downturn in the U.S. economy.

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