Wall Street was expected to open flat on Friday as economic data came in line with expectations, disappointing some participants who were hoping for better news.
Futures trading was fairly flat, with Dow futures up 6 points, S&P futures 1.1 points higher and Nasdaq futures 2 points to the good.
But trade was expected to remain cautious as investors square up their portfolios ahead of the end of the quarter and the first half of the year.
US personal income and spending data showed that consumer activity picked up in May, with income up 0.3 per cent and spending rising 0.1 per cent from a surprising 0.1 per cent decline in April. Economists had expected a spending rise of 0.2 per cent.
Later in the session, the University of Michigan announces the final reading of its measure of consumer confidence, which is expected to have fallen in June to 87.2 from 92.1 in the previous month.
On the corporate front, Nike, the sportswear maker, after the close on Thursday reported an earnings increase of 19 per cent. Profit however, was a little lower than Wall Street's estimates.
Futures trading was fairly flat, with Dow futures up 6 points, S&P futures 1.1 points higher and Nasdaq futures 2 points to the good.
But trade was expected to remain cautious as investors square up their portfolios ahead of the end of the quarter and the first half of the year.
US personal income and spending data showed that consumer activity picked up in May, with income up 0.3 per cent and spending rising 0.1 per cent from a surprising 0.1 per cent decline in April. Economists had expected a spending rise of 0.2 per cent.
Later in the session, the University of Michigan announces the final reading of its measure of consumer confidence, which is expected to have fallen in June to 87.2 from 92.1 in the previous month.
On the corporate front, Nike, the sportswear maker, after the close on Thursday reported an earnings increase of 19 per cent. Profit however, was a little lower than Wall Street's estimates.
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