US Markets

Markets largely unmoved by GDP report

U.S. stock index futures continued to point to a lower open on Wall Street Friday after a second reading of U.S. fourth quarter gross domestic product (GDP) showed slower growth than the initial report on the quarter.

Fourth-quarter GDP was revised to show growth of 2.2 percent. Analysts polled by Reuters expect GDP growth of 2.1 percent, after a final reading of 5.0 percent in the third quarter.

Other data in the spotlight Friday are Chicago PMI data for February due at 9:45 a.m. and consumer sentiment and pending home sales data due at 10 a.m.

Investors will also be watching a raft of officials from the U.S.Federal Reserve speaking today, including New York Fed President Wiliam Dudley,Cleveland Fed President Loretta Mester and U.S. Federal Reserve vice chair Stanley Fischer. In a quiet day for earnings, Icahn Enterprises reports before the opening bell.

In other news, investors will be watching a key vote by Congress on homeland security funding measures ahead of a deadline at midnight on Friday when the Department of Homeland Security is set to run out of money.

Asian and European equity markets were mixed on Friday, following an uninspiring lead from Wall Street Thursday after jobless claims data showed a rise in unemployment aid applications that was more than analysts had expected. A 0.7 percent drop in the U.S. consumer price index in January also weighed on sentiment.

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In Europe, Greece is also in the spotlight again with German lawmakers set to approve a four-month extension of Greece's bailout on Friday although relations appear strained between the two countries after a turbulent negotiation process.

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