Stock index futures were flat after shares of Citigroup
General Electric Co
Citigroup reported a quarterly per share loss on revenues of $24.8 billion in the first quarter.
The health of the financial sector has been a key concern for investors. The present rally from early March began when several banks said they were profitable in January and February.
Citi's shares rose 16.7 percent to $4.69, while GE rose 5 percent to $12.91 in premarket trade.
GE's earnings came in better than expected and Citigroup's loss was much better than expected, said Paul Mendelsohn, chief investment strategist at Windham Financial Services in Charlotte, Vermont.
Investors as far as the financial crisis is concerned are seeing the light at the end of the tunnel, he added. The worse of the financial crisis may be behind us and we're not looking over the abyss anymore.
S&P 500 futures were flat and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures rose 26 points, and Nasdaq 100 futures lost 2.5 points.
On Nasdaq, shares of Google
In other news a bankrupt General Motors Corp
On the economic front the Reuters/University of Michigan April survey of consumer sentiment, due at 9.55 a.m., is expected to have risen for a second consecutive month to 58.5 from March's 57.3.
U.S. stocks surged on Thursday as expectations of reassuring results from bellwethers, including Google, lifted technology shares, while JPMorgan's better-than-expected profit added to bank stabilization hopes.
(Reporting by Edward Krudy; Editing by Theodore d'Afflisio)