Alert Email Print Share #var paragraph = content as Paragraph; #var textChunk = chunk as TextChunk; #// #// -->By William L. Watts, MarketWatch
LONDON (MarketWatch) -- U.S. stock index futures were slightly lower in choppy trade Friday, pointing to a flat to lower opening for Wall Street as investors await data on July consumer price inflation and industrial production.
S&P 500 index futures were down 1.5 points at 1,012, while Nasdaq 100 futures slipped 4 points to 1,627.75. Dow Jones Industrial futures were off 12 points.
The consumer price index, set for release at 8:30 a.m. Eastern, is expected to have remained flat in July, according to a survey of economists by MarketWatch. Core CPI, which strips out volatile food and energy prices, is forecast to show a 0.1% rise.
July industrial production data, due at 9:15 a.m. Eastern, is expected to show a 0.7% rise after a 0.4% fall in June, the survey found.
U.S. stock indexes posted a second day of gains Thursday, shaking off weakness in the consumer sector after a disappointing fall in July retail sales underlined expectations that consumers aren't willing or able to boost spending.
A growing appetite for risk, which has helped buoy shares around the world, remains the dominant theme in the market, despite the retail data, wrote strategists at Lloyds TSB, in a note to clients.
But caution remains the watchword, they said, noting that the weak retail data underlined the U.S. Federal Reserve's observation Wednesday that consumer spending is struggling to gain traction amid rising unemployment and a the readjustment of household balance sheets.
"So while the upbeat sentiment in risk assets is encouraging, there is an argument that some markets could be living on borrowed time," the strategists wrote.
On the earnings front, clothing retailer Abercrombie & Fitch Co. /quotes/comstock/13*!anf/quotes/nls/anf (ANF 32.96, +0.88, +2.74%) is expected to post a second-quarter loss of 7 cents a share, according to analysts surveyed by Thomson Reuters.
Department-store retailer J.C. Penney Co. /quotes/comstock/13*!jcp/quotes/nls/jcp (JCP 33.34, +0.13, +0.39%) is forecast to post a second quarter loss of 1 cent a share.
European shares gained ground Friday. See Europe Markets.
The Dow Jones Industrial Average /quotes/comstock/10w!i:dji/delayed (INDU 9,398, +36.58, +0.39%) closed at 9,398.19 Thursday, a 0.4% gain. The S&P 500 Index /quotes/comstock/21z!i1:in\x (SPX 1,013, +6.92, +0.69%) finished at its highest level since October, gaining 6.92 points, or 0.7%, to 1,012.73. The technology-led Nasdaq Composite /quotes/comstock/10y!i:comp (COMP 2,009, +10.63, +0.53%) advanced 10.63 points, or 0.5%, to settle at 2,009.35.
Oil futures were up 25 cents a barrel at $70.77 in electronic trade on Nymex.
The dollar slipped 0.3% versus the Japanese currency to 95.06 yen. The euro was little changed versus the greenback at $1.4275.
William L. Watts is a reporter for MarketWatch in London.
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