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US stocks hold lower after GDP data matches estimates

U.S. stock index futures held lower on Friday after U.S. economic growth data came in-line with expectations.

The U.S. economy grew by at an annualized rate of 2.6 percent during the second quarter. Economists polled by Reuters expected the economy to have grown at that rate.

Dow futures traded 36 points lower, while S&P and Nasdaq futures slipped 6.5 points and 43.50 points, respectively.

After a whirlwind of earnings releases seen this week, Friday will deliver a lighter batch, however these earnings are still expected to keep investors on their toes.

Traders work on the floor of the New York Stock Exchange on January 31, 2014 in New York City
Spencer Platt | Getty Images News | Getty Images
Traders work on the floor of the New York Stock Exchange on January 31, 2014 in New York City

ExxonMobil, Merck, and American Airlines Group are among the companies that reported quarterly results.

Minneapolis Fed President Neel Kashkari will be speaking at a Woodbury/St. Paul Chamber of Commerce event, in Oakdale.

In the political sphere, the U.S. Senate blocked the Republicans most recent attempt to repeal Obamacare in a floor vote early Friday, dealing another blow which yet again delayed — for the time being — the key campaign goal that eludes the GOP six months into the Trump administration.

Three GOP defections — Sens. Susan Collins of Maine, Lisa Murkowski of Alaska and John McCain of Arizona — sank the measure in a 49-51 vote. McCain, who recently came back to the Senate after being diagnosed with brain cancer, cast his "no" vote to audible gasps on the chamber's floor, according to reporters there.

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In the energy sphere investor sentiment remained optimistic, supported by a recent fall in U.S. inventories and OPEC's continued efforts to rein in the market's oversupply.

Despite the positive sentiment, oil prices were fluctuating between gains and losses during trade, with U.S. crude hovering around $49.10, and Brent around $51.69 per barrel at 8:04 a.m. ET.

In Europe, bourses were trading in the red in morning trade, while Asia-Pacific markets finished trade under pressure. In the previous session, U.S. stocks ended trade mixed.

—CNBC's Jacob Pramuk contributed to this report.