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Futures are higher ahead of a quiet day for data

May 20, 2016, 17:54 IST

Investing.com

Stock futures were a hair higher on Friday ahead of a quiet day for economic data.

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Near 8:07 a.m. ET, Dow futures were up 49 points (0.28%), S&P 500 futures were up 5 points (0.27%) and Nasdaq futures were up 14 points (0.34%).

The Dow and S&P 500 are still red for the week, and closed lower in the previous three. The S&P 500 went red for the year again on Thursday.

If they close down again on Friday, it would be the first four-week losing streak since October 2014. For the Nasdaq, it would be the first five-week streak since 2012.

Stocks closed lower on Thursday, as stocks continued to sell off following Wednesday's Federal Reserve minutes that showed the policy-setting committee may raise rates in June if the economic data lines up.

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Existing home sales numbers are due at 10 a.m. ET, and that's the only item on the US data calendar. Just after 1 p.m., driller Baker Hughes will release its weekly count of US oil and gas rigs. The combined total fell to another record low last week, as the oil tally declined for a seventh straight period.

Crude oil prices were little changed in early trading. West Texas Intermediate crude was up 0.1% to $48.74 per barrel in New York.

In earnings, John Deere reported better-than-expected profits, but cut its outlook for full-year net income amid what it calls a "global farming recession."

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