Stock index futures pointed to a weaker opening for equities on Wall Street on Friday after U.S. lawmakers delayed a vote on a Republican proposal to raise the U.S. government's debt limit.
Futures for the S&P 500, for the Dow Jones and for the Nasdaq 100 were down 0.4 to 0.6 percent. Europe's FTSEurofirst 300 <.FTEU3> fell 0.9 percent, while Japan's Nikkei average <.N225> dropped 0.7 percent.
House of Representatives Speaker John Boehner's failure to round up enough support for his plan on Thursday exposed a rift in the Republican Party that is hampering efforts to reach a compromise to raise the U.S. debt ceiling before a Tuesday deadline.
House Republicans are due to meet at 10 a.m. (1400 GMT) on Friday to discuss a way forward.
The Commerce Department releases its advance (first) estimate of Q2 GDP at 1230 GMT. Economists in a Reuters survey forecast a 1.8 percent annualized pace of growth compared with a 1.9 percent rate in the final Q1 estimate.
The Labor Department issues at 1230 GMT the Employment Cost Index for the second quarter. Economists in a Reuters survey expect a rise of 0.5 percent versus a 0.6 percent rise in the first quarter.
Chevron ,CVX.N>, the second-largest U.S.-based oil and gas producer, will report second-quarter earnings that are expected to rise as the higher prices for oil and robust refining margins help offset slightly lower total output.
At 1230 GMT the Institute for Supply Management-New York releases July index of regional business activity. In the previous month, the index read 535.3.
The Institute of Supply Management Chicago releases at 1345 GMT July index of manufacturing activity. Economists forecast a reading of 60.0 in the month compared with 61.1 in June.
Thomson Reuters/University of Michigan Surveys of Consumers release at 1355 GMT July final consumer sentiment index. Economists in a Reuters survey expect a reading of 64.0 compared with 63.8 in the preliminary July report.
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Economic Cycle Research Institute (ECRI) releases at 1430 GMT its weekly index of economic activity for July 22. In the prior week the index read 127.5.
The euro zone debt crisis also continues to be a concern to markets. Rating agency Moody's put Spain on review for a possible downgrade on Friday, adding to concerns that a Greek rescue package has done little to halt the spread of Europe's debt crisis.
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On Thursday the Dow Jones industrial average <.DJI> ended down 62.44 points, or 0.51 percent, at 12,240.11. The Standard & Poor's 500 Index <.SPX> was down 4.22 points, or 0.32 percent, at 1,300.67. The Nasdaq Composite Index <.IXIC> finished up 1.46 points, or 0.05 percent, at 2,766.25.
(Reporting by Atul Prakash; Editing by Greg Mahlich)