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U.S. Stock Futures Surrender Gains as UPS Warning Sparks Earnings Worries

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U.S. stock futures turned lower Friday morning after United Parcel Service ( UPS ) preannounced Q4 earnings well below analysts' expectations, adding to investors' worries for the earnings season following mixed results from Dow components McDonalds ( MCD ) and General Electric ( GE ).

Stock futures had been trading higher earlier Friday morning in tandem with strength overseas as Asian traders took their turn responding enthusiastically to Thursday's European Central Bank announcement. But despite early losses, Wall Street is still poised to snap a three-week losing streak.

Today's economic data started off on a negative note with the Chicago Fed National Index tumbling to -0.05 in December from November's revised 0.92.

The remaining data, however, should be more upbeat with December existing home sales expected to increase 2.4% to 5.050 mln SAAR, and December leading economic indicators forecasted to increase 0.4%.

-Dow Jones Industrial down 0.10%

-S&P 500 futures down 0.23%

-Nasdaq 100 futures down 0.17%

SENTIMENT

Nikkei up 1.05%

Hang Seng up 1.34%

Shanghai Composite up 0.30%

FTSE-100 up 0.11%

DAX-30 up 1.870025

PRE-MARKET SECTOR WATCH

(-) Large cap tech: Lower

(-) Chip stocks: Lower

(+) Software stocks: Higher

(+/-) Hardware stocks: Mixed

(+/-) Internet stocks: Mixed

(+/-) Drug stocks: Mixed

(-) Financial stocks: Lower

(+) Retail stocks: Higher

(-) Industrial stocks: Lower

(-) Airlines: Lower

(+/-) Autos: Mixed

UPSIDE MOVERS:

(+) INFN (+13.19%) Reported better-than-expected earnings

(+) ETFC (+5.56%) Upbeat Q4 earnings, upgraded at Credit Suisse to Outperform

(+) SBUX (+4.88%) Beat revenue estimates, reaffirmed FY 2015 targets

DOWNSIDE MOVERS:

(-) LF (-32.05%) Lowered Q3 outlook

(-) DWA (-12.53%) Plans to cut 500 jobs, produce only two films per year, down from 3

(-) ALTR (-4.38%) Forecasted flat to lower Q1 sales, downgraded at BMO to market perform

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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