US futures dip after S&P recordComment on this story
New York - US stock index futures dipped on Friday following another record close for the S&P 500 a day earlier as traders dismissed a contraction in the economy in the first quarter.
* The economic calendar will keep markets busy in the last trading day of the month.
The S&P and Dow industrials are on track to close their four month of gains in a row, while the Nasdaq Composite could close its first positive month in three.
* Data on personal consumption and income for April is due at 8:30 a.m. EDT (14:30 SA time) while May's Chicago purchase managers index is expected shortly after the market opens.
At 9:55 a.m. (15:55 SA time) the Thomson Reuters/University of Michigan May reading on consumer sentiment is due.
* S&P 500 e-mini futures were down 2 points and fair value - a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract - indicated a slightly lower open.
Dow Jones industrial average e-mini futures fell 9 points and Nasdaq 100 e-mini futures lost 2 points.
* Equity markets continue to keep an eye on Treasury yields.
The 10-year Treasury note yield rose to around 2.47 percent, near an 11-month low hit during Thursday's session.
* Apparel retailers Express and Guess forecast disappointing profits for the current quarter amid a sluggish revival in consumer spending. Express shares fell 13 percent in premarket trading.
* Shares of Infoblox tumbled 32 percent in premarket trading after the network equipment maker forecast a lower-than-expected profit for the current quarter and said its chief executive would step down.
* Data analytics software maker Splunk reported a bigger quarterly loss Thursday as expenses nearly doubled.
Its shares fell 8.9 percent in premarket trading. - Reuters