US futures dip after S&P record

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 US bourse is set to open higher as European leaders get ready to meet. Credit: REUTERS

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.

At 9:55 a.m. (15:55 SA time) the Thomson Reuters/University of Michigan May reading on consumer sentiment is due.

Dow Jones industrial average e-mini futures fell 9 points and Nasdaq 100 e-mini futures lost 2 points.

The 10-year Treasury note yield rose to around 2.47 percent, near an 11-month low hit during Thursday's session.

Its shares fell 8.9 percent in premarket trading. - Reuters