Indices Head for Winning Week Though Futures Lose

Stock futures fell slightly on Friday morning as investors looked to close out a winning week for markets that saw better-than-expected economic growth and a pop in market-darling Tesla.

Futures for the Dow Jones Industrials docked 27 points early Friday to 33,995.

Futures for the S&P 500 was behind 15.25 points, or 0.4%, to 4,060.75.

Futures for the NASDAQ Composite dropped 70.5 points, or 0.6%, to 12,037.50.

All three indexes are positive for the week and month. The Dow has gained 1.7% and the S&P 500 has taken on 2.2% this week. The NASDAQ is up 3.3% on the week and is set to notch its best monthly performance since July. The NASDAQ has gained the last four weeks.

Earnings season continued, with Intel slumped more than 9% pre=market following a dismal earnings report that missed on the top and bottom lines. Strong guidance boosted American Express despite a top-and bottom-line miss.

Tesla closed out Thursday with an 11% gain after earnings and revenue for the last quarter topped expectations and CEO Elon Musk projected the carmaker could possibly produce 2 million cars this year. The widely followed stock was down 65% last year to lead a rout in the growth sector. The shares are up more than 30% this year.

On Friday, investors will be watching for economic reports that will give more information about the state of inflation. Personal income and spending and pending home sales for December are due in the morning. The personal consumption expenditures price index, a preferred inflation measurement for the Federal Reserve, is also due. Consumer sentiment for January will also be released.

In Japan, the Nikkei 225 index edged up 0.1%, while in Hong Kong surged 0.5%.

Oil prices demurred 11 cents to $80.02 U.S. a barrel.

Gold prices fell $8.70 to $1,926.70 U.S. an ounce.