After trending higher in recent sessions, stocks may give back some ground in early trading on Friday. The major index futures are currently pointing to a modestly lower open, with the Dow futures down by 21 points.
Profit taking may contribute to any early weakness on Wall Street, with some traders likely to cash in on the recent strength in the markets, which lifted the major averages to nearly six-month closing highs in the previous session.
A negative reaction to quarterly results from General Electric (GE) may also generate some selling pressure, with the diversified conglomerate under pressure in pre-market trading.
While GE reported fourth quarter adjusted earnings of $0.39 per share, a penny above analyst estimates, the company's sales fell 8 percent to $38 billion, below expectations for $40 billion.
Internet search giant Google (GOOG) could also see early weakness after reporting weaker than expected fourth quarter results after the close of trading on Thursday.
Meanwhile, shares of Microsoft (MSFT) are moving higher in pre-market trading after the software giant reported better than expected second quarter earnings on revenues that came about in line with estimates.
Intel (INTC) and IBM Corp. (IBM) also reported better than expected quarterly results, which may help to limit any early downside for the markets.
Not long after the open, trading could be impacted by the release of the National Association of Realtors' report on existing home sales in the month of December. Economists expect existing home sales to increase to an annual rate of 4.65 million in December from 4.42 million in November.
Traders are also likely to keep an eye on developments in Greece, where the government is attempting to reach a deal with private creditors in order to avoid a disorderly default.
After moving mostly higher over the course of the two previous sessions, stocks saw some further upside during trading on Thursday. Benefiting from a positive reaction to the latest batch of earnings news as well as some upbeat jobs data, the markets extended the upward trend seen in recent weeks.
The major averages ended the day firmly in positive territory, at their best levels closing levels in almost six months. The Dow rose 45.03 points or 0.4 percent to 12,623.98, the Nasdaq advanced 18.62 points or 0.7 percent to 2,788.33 and the S&P 500 climbed 6.46 points or 0.5 percent to 1,314.50.
In overseas trading, stock markets across the Asia-Pacific region moved to the upside during trading on Friday, benefiting from the overnight strength on Wall Street. Japan's Nikkei 225 Index advanced by 1.5 percent, while Hong Kong's Hang Seng Index rose by 0.8 percent.
Meanwhile, the major European markets have moved lower on the day. While the U.K.'s FTSE 100 Index has edged down by 0.2 percent, the German DAX Index is down by 0.3 percent, and the French CAC 40 Index is down by 0.5 percent.
In commodities trading, crude oil futures are sliding $0.80 to $99.59 a barrel after dipping $0.20 to $100.39 a barrel on Thursday. Gold futures, which dropped $5.40 to $1,654.50 an ounce in the previous session, are falling $3.80 to $1,650.70 an ounce.
On the currency front, the U.S. dollar is trading at 77.20 yen compared to the 77.1083 yen it fetched at the New York session's close on Thursday. Against the euro, the dollar is valued at $1.2912 compared to yesterday's $1.2968.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.