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Stock futures flat as more retailers post earnings

February 16. 2013 5:20PM
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(AP) Stock futures were relatively flat ahead of the release of the latest data on consumer sentiment Friday amid a mixed bag of earnings from retailers.

Dow Jones industrial futures are down 3 points to 13,222. The broader S&P futures have given up 0.90 points to 1,412.20. Nasdaq futures are up 4.75 points to 2,768.25.

The University of Michigan releases its monthly consumer sentiment index just before 10 a.m. Eastern time Friday. Economists expect a slight decline.

Gap Inc. rose premarket trading after its earnings release Thursday showed the retailer is well on its way to a turnaround. The Gap posted a 29 percent jump in second-quarter net income and boosted its outlook.

Ann Taylor parent company Ann Inc. said Friday that its second-quarter profit rose 24 percent. Foot Locker's second-quarter net income jumped 59 percent, boosted by higher sales, cost controls and a small tax-related gain.

Wal-Mart shares edged lower in premarket trading after a 3 percent decline Thursday. The world's biggest retailer fell short of revenue expectations during its second quarter, and that overshadowed its raised outlook for the year.

Shares of Shares of Aeropostale fell 7 percent in electronic trading Friday after a disappointing outlook for its third quarter on Thursday.

Global markets rose after a new pledge of support for the euro from German Chancellor Angela Merkel.

Merkel, who is in Canada for a two-day meeting with Canadian Prime Minister Stephen Harper, said Thursday that "we feel committed to do everything we can to maintain the common currency."

That echoes comments from European Central Bank President Mario Draghi last month, but the support of Germany, the continent's economic powerhouse, is critical.

Associated Press

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