* Market may be in "relief rally" after declines
* GE revenue ticks up, but shares fall
* IBM shares down, Google up after results
* McDonald's profit up, shares off as U.S. sales drop
* Futures up: Dow 50 pts, S&P 7 pts, Nasdaq 15 pts
NEW YORK, April 19 U.S. stock index futures rose
on Friday, signaling the market may bounce back a day after the
S&P 500 index closed below its 50-day moving average for the
first time this year.
The market has weakened on recent economic data, and the S&P
500, down 3 percent over the past four sessions, is on track to
post its worst week this year. A fall in commodity prices has
further pressured stocks.
The S&P 500's close below the 50-day moving average on
Thursday indicates the medium-term uptrend in the market could
be in peril. The last time the index closed consecutive days
under its 50-day average came in early December.
The market's rebound follows a series of declines, according
to Jack De Gan, chief investment officer at Harbor Advisory Corp
in Portsmouth, New Hampshire.
"It's a relief rally after the last couple of days," he
General Electric shares fell 3.4 percent in premarket
trading after the conglomerate reported a quarterly profit in
line with expectations as GE sold more jet engines and shed its
stake in NBC Universal.
S&P 500 futures rose 7 points and were above fair
value, a formula that evaluates pricing by taking into account
interest rates, dividends and time to expiration on the
contract. Dow Jones industrial average futures rose 50
points, and Nasdaq 100 futures added 15 points.
McDonald's Corp shares fell 1.4 percent in trading
before the open after it reported a slight rise in first-quarter
profit and said sales at established U.S. restaurants fell 1.2
Google's core Internet business increased net
revenue 23 percent in the first quarter, softening the effect of
a sharp decline in its Motorola mobile phone division. Its
shares were up 1.5 percent in premarket trading.
International Business Machines Corp posted
quarterly earnings that missed estimates due to the depreciation
of the Japanese yen and a failure to close major deals,
especially in Europe and the United States. The stock, down 4.4
percent in premarket trading, is expected to weigh on the Dow
Vertex Pharmaceuticals said Thursday its
experimental drug improved lung function in adults with cystic
fibrosis in a midstage trial. Its shares were up 62 percent in