February 07, 2013-Stocks Look to a Mixed Open as Momentum Waivers on Range-bound Market

Wall Street is likely to see range bound trading on Friday, as reflected by the U.S. index futures, which point to a mixed opening. Asian markets capitalized on strong Chinese trade data, although some insipid earnings and the yen's strength hurt sentiment in Japan. European stocks are firmer amid the weakness of the euro. While also reacting to some positive earnings released Thursday after the close of trading, U.S. stocks could also look to the domestic trade data to provide some direction. The Dow futures are declining 9 points, while the S&P 500 futures are up 0.20 points and the Nasdaq 100 futures are rising 3.50 points. U.S. stocks saw lackluster sentiment on Thursday before closing lower, as traders lacked incentive to build on their positions. On the economic front, the Commerce Department is set to release its trade balance report for December at 8:30 am ET. Economists expect the trade deficit to narrow to $46 billion from a deficit of $48.7 billion reported for November.