(RTTNews) - US stocks were poised for a lackluster open to what is likely to be a quiet session on Friday, with many traders away from their desks getting a head start on the Labor Day weekend.

Stock futures were indicated slightly lower across the board as of 6:30 am ET. The S&P Futures were down 3 points, the Nasdaq Futures were down 4 points, and the Dow Futures were down 18 points.

Following a better than expected preliminary reading on economic growth, stocks ended Thursday’s session with a standout performance. Nonetheless, the markets saw a light trading day that exacerbated the move.

There will be some economic numbers for the markets to consider on Friday, including government data on data on personal income and spending.

The price oil moved slightly higher in early electronic dealing as Gustav gathered strength moving into the Gulf of Mexico. Crude for October was up $1.25 at $116.84 a barrel on concerns that Gustav will interrupt offshore production.

PC maker Dell Inc. (DELL) said Thursday after the markets closed that its second quarter earnings fell 17% from last year, as strategic investments to drive long-term growth impacted profitability. The company’s quarterly earnings per share also came in below analysts’ expectations.

At the same time, the company warned that the slowdown in IT spending has extended into Western Europe and several countries in Asia.

Thursday, Novell Inc. (NOVL), a developer of mixed source and open source software, reported a wider net loss for the third quarter, despite a rise in revenues, on an impairment charge related to auction-rate securities. The company also reiterated its revenue guidance for fiscal 2008.

The Department of Commerce will release its data on personal income and spending at 8:30 am ET. Economists expect personal income to decrease by 0.2 percent in July after posting a 0.1 percent increase in June. On the spending side, economists expect personal spending to show 0.2 percent growth.

Additionally, the National Association of Purchasing Management - Chicago will release its index on business conditions in the Chicago area while the University of Michigan releases the results of its consumer sentiment survey.

Asian stocks gained ground on Friday. The Hang Seng of Hong Kong rose 289 points, while Tokyo’s Nikkei added 304 points.

In European intraday dealing, the FTSE of the UK was up 27 points, the DAX of Germany rose 13 points, and the CAC of France picked up 30 points.

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Posted in Categories: Economy, Eurozone, Japan, Releases, UK, USA.

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