(Reuters) - BofA Merrill Lynch lowered its 2010 growth forecast for global semiconductor industry and downgraded ten chipmakers, including Intel Corp <INTC.O>, turning more cautious on the group on expectations of a modest overshoot in global supply chain inventories.

At this point, stock index futures are pointing to modest gains at the open on Friday, as most markets in both Asia and Europe rose, with investors awaiting more macroeconomic data for clearer near-term market direction.