* Futures up: Dow 1 pt, S&P 1.75 pts, Nasdaq 3.25 pts
By Tanya Agrawal
April 28 U.S. stock index futures were little
changed on Friday as investors awaited the first-quarter report
on gross domestic product, while assessing quarterly earnings.
* The Nasdaq Composite is on track to post gains for the
sixth straight month, after closing at a record high on
Thursday, following stellar earnings from tech heavyweights.
* Amazon rose 3.4 percent at $949.50 in premarket
trading, while Google's parent Alphabet gained 4.2
percent to $929.05 after their quarterly results beat estimates.
* The S&P and the Dow were also on track to end the month
higher as the first-quarter corporate earnings season continued
* Overall profits of S&P 500 companies are estimated to have
risen 12.4 percent in the first quarter, the most since 2011,
according to Thomson Reuters I/B/E/S.
* U.S. businesses would mostly benefit if Trump's plan to
cut corporate tax rates and slash taxes on cash parked overseas
becomes law. But the economic benefits and the timing of a
possible bill remain in question.
* Data is expected to show that U.S. economic growth slowed
in the first quarter. Gross domestic product is expected to have
dropped to 1.2 percent from 2.1 percent in the previous quarter.
The data is expected at 8:30 a.m. ET (1230 GMT).
* University of Michigan's consumer sentiment data for April
is expected at 10 a.m. ET and will likely remain unchanged at
98.0 from a month ago.
* Oil prices rebounded after dropping to a one-month low the
previous day, prompting investors to buy at cheaper levels ahead
of a May OPEC meeting at which producers could extend output
* Starbucks fell 4.6 percent to $58.45 after the
world's biggest coffee chain cut its full-year profit target.
* Intel was down 3.8 percent at $36 after reporting
lower-than-expected quarterly revenue.
Futures snapshot at 7:03 a.m. ET:
* Dow e-minis were up 1 points, or 0 percent, with
13,937 contracts changing hands.
* S&P 500 e-minis were up 1.75 points, or 0.07
percent, with 72,366 contracts traded.
* Nasdaq 100 e-minis were up 3.25 points, or 0.06
percent, on volume of 17,012 contracts.
(Reporting by Tanya Agrawal; Editing by Anil D'Silva)