WASHINGTON (dpa-AFX) - After trending lower over the past several sessions,
stocks may show a lack of direction in early trading on Friday. The major index
futures are currently pointing to a roughly flat open for the markets, with the
S&P 500 futures little changed.

The futures had been pointing to a lower open earlier in the morning after
Israel launched strikes against Iran, in what appeared to be limited retaliatory
action for last week's drone and missile barrage by Tehran.

However, negative sentiment has waned after Iranian state media downplayed the
attacks, saying explosions heard in Isfahan were a result of the activation of
Iran's air defense systems.

The semi-official news agency Tasnim also reported the nuclear facilities in
Iran's central Isfahan province are completely safe.

Nonetheless, a steep drop by shares of Netflix (NFLX) may still weigh on the
markets, as the streaming giant is plunging by 6.8 percent in pre-market
trading.

Netflix is under pressure after reporting better than expected first quarter
results but providing disappointing revenue guidance.

Consumer products giant Procter & Gamble (PG) is also seeing pre-market weakness
after reporting first quarter earnings that beat analyst estimates but weaker
than expected sales.

On the other hand, shares of American Express (AXP) are edging higher in
pre-market trading after the financial services giant reported first quarter
results that exceeded expectations.

Overall trading activity may be somewhat subdued, however, with a lack of major
U.S. economic data likely to keep some traders on the sidelines.

After once again failing to sustain an early upward move, stocks came under
pressure over the course of the trading session on Thursday. The major averages
pulled back well off their highs of the session, with the Nasdaq and the S&P 500
ending the day in negative territory.

Reflecting weakness in the tech sector, the Nasdaq slid 81.87 points or 0.5
percent to 15,601.50, while the S&P 500 dipped 11.09 points or 0.2 percent to
5,011.12. The narrower Dow bucked the downtrend, inching up 22.07 points or 0.1
percent to 37,775.38.

In overseas trading, stock markets across the Asia-Pacific region moved sharply
lower during trading on Friday. Japan's Nikkei 225 Index plunged by 2.7 percent,
while Hong Kong's Hang Seng Index slumped by 1.0 percent.

The major European markets have also moved to the downside on the day. While the
French CAC 40 Index has edged down by 0.1 percent, the U.K.'s FTSE 100 Index and
the German DAX Index are both down by 0.5 percent.

In commodities trading, crude oil futures are falling $0.56 to $82.17 a barrel
after inching up $0.04 to $82.73 a barrel on Thursday. Meanwhile, after climbing
$9.60 to $2,398 an ounce in the previous session, gold futures are edging down
$3 to $2,395 an ounce.

On the currency front, the U.S. dollar is trading at 154.51 yen versus the
154.64 yen it fetched at the close of New York trading on Thursday. Against the
euro, the dollar is valued at $1.0668 compared to yesterday's $1.0643.



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