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NEW YORK (CNNMoney) -- U.S. stock futures were dragged lower Friday by weak results from Apple and Amazon, ahead of key economic reports.
Apple (AAPL, Fortune 500) shares were little changed in premarket trading, a day after the company reported quarterly results that missed expectations, despite predictions for a strong fourth quarter. Additionally, Amazon (AMZN, Fortune 500) reported a narrower-than-expected loss but missed on sales. Shares slid almost 2% in early trading.
As quarterly results continue to roll in, investors have been sidelined by weaker-than-expected sales growth and tepid guidance for the current quarter. In addition, traders have become risk-averse ahead of the U.S. presidential elections, while concerns about the fiscal cliff continue to weigh on the market.
Meanwhile, investors will get a fresh look at the pace of the U.S. recovery when the government releases its first estimate of third-quarter GDP growth at 8:30 a.m. ET. A CNNMoney survey of 17 economists predicts the economy grew at a 1.7% annual rate in the third quarter, up from 1.3% in the second quarter.
Later in the morning, the University of Michigan will release the final version of its consumer sentiment index for October.
U.S. stocks closed with slim gains Thursday.
Related: Fear & Greed Index
European stocks slid in morning trading. Britain's FTSE 100 fell 0.5%, the DAX in Germany lost 0.4% and France's CAC 40 shed 0.5%.
Spain's IBEX 35 was down 1% after government statistics showed Spanish unemployment rose to a record high of 25% in the third quarter.
On Thursday, Standard & Poor's cut its ratings on BNP Paribas and two other major French banks, citing the rising economic risks that they face.
Meanwhile, Asian markets ended lower. The Shanghai Composite tumbled 1.7%, the Hang Seng in Hong Kong sank 1.2%, and Japan's Nikkei flopped 1.3%.
Companies: Merck (MRK, Fortune 500) reported third-quarter earnings that beat analysts' expectations, even as worldwide sales declined.
Comcast (CMCSA)said earnings jumped 136% in the third quarter from the same period last year, helped by coverage of the 2012 Olympic Games.
Shares of Expedia (EXPE) continued to rally ahead of the bell after the travel website reported strong quarterly earnings late Thursday.
Deckers Outdoor (DECK) tumbled in premarket trading after the maker of Ugg boots and Teva sandals slashed its outlook for the remainder of the year.
Currencies and commodities: The dollar was little changed against the euro and the British pound, but rose against the Japanese yen.
Oil for December delivery fell 65 cents to $85.38 a barrel.
Gold futures for December delivery dropped $7.60 to $1,705.50 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury rose, pushing the yield down to 1.78% from 1.83% late Thursday.
First Published: October 26, 2012: 6:06 AM ET
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