Wall Street was set for a lower open on Friday after General Electric Co (GE.N) a 42 percent drop in quarterly earnings and Bank of America Corp (BAC.N) posted a quarterly loss before the open.

* S&P 500 futures SPc1 fell 2.90 points 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 DJc1 were down 34 points, and Nasdaq futures NDc1 fell 4 points.

Investment U.S.