Stock futures pointed to a lower open on Friday after General Electric Co reported a 42 percent drop in quarterly profit before the bell.

S&P 500 futures were down 1 point and were below 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 were down 9 points, while Nasdaq futures rose 3 points.

(Reporting by Edward Krudy, editing by Jeffrey Benkoe)