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 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.
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