Stock index futures pointed to a weaker open for Wall Street Friday as investors remained skeptical over the euro zone debt deal reached on Wednesdayand its ability to contain the crisis that has swept across the region.
Futures held at negative levels following economic reports showing that personal income grew just 0.1 percent in September but consumers increased spending by 0.6 percent, a seemingly unsustainable trend that calls into question whether the 2.5 percent growth in the third quarter was an aberration.
In earnings news, Dow component Chevron, the second-largest U.S. oil company, is expected to show a sharp increase in profit on Friday boosted by a $500 million gain on the sale of its Welsh refinery and British and Irish marketing assets.
Profit is expected to jump to $3.46 per share from $1.87 per share, according to Thomson Reuters.
Fellow Dow component Merck reported earnings of 94 cents a share, better than consensus estimates by three cents and good enough to send shares up 1.4 percent in premarket trading.
Strategists, though, worried that market enthusiasm has become overdone and stocks are due for a pullback, if only a temporary consolidation.