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Stock Futures Mixed Ahead of Confidence Data

Written by: Andrea Tse 01/18/13 - 9:03 AM EST
Tickers in this article: AM AXP GE INTC JCI MS T ^DJI ^GSPC ^IXIC

NEW YORK (TheStreet) -- Stock futures were trading mixed Friday as investors cheered stronger-than-expected growth in China and anticipated a strengthening of U.S. consumer confidence data, and as General Electric(GE) and Morgan Stanley(MS) shares advanced after their fourth-quarter earnings beats.

Futures for the Dow Jones Industrial Average were up 8 points, or 16.98 points above fair value, at 13,549. Futures for the S&P 500 were up 1 point, or 1.16 points above fair value, at 1476. Futures for the Nasdaq were down 7.75 points, or 7.90 points below fair value, at 2732, as Intel(INTC) shares declined after the chip behemoth issued a downbeat guidance.

General Electric posted fourth-quarter earnings of 44 cents a share on revenue of $39.3 billion, compared with the average analyst estimate of 43 cents a share on revenue of $38.74 billion, as five of the seven industrial segments achieved double-digit earnings growth. Shares were gaining more than 3% in premarket trading.

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"The outlook for developed markets remains uncertain, but we are seeing growth in China and the resource rich countries," said CEO Jeff Immelt.

Morgan Stanley swung to profit in the fourth quarter, beating expectations on better-than-expected equity trading and stronger performance from its wealth management unit. Shares were up more than 6%.

In after-hours trading Thursday, Intel exceeded analysts' fourth-quarter earnings estimates but issued guidance for the first quarter and full year 2013 below Wall Street views. Shares were skidding close to 6% in premarket trading Friday.

Major U.S. stock averages rallied Thursday, with the S&P 500 soaring to a five-year high, as better-than-expected economic reports outweighed disappointing quarterly results from Bank of America(BAC) and Citigroup(C) .

The optionsXpress Equity Team said Thursday was "a win" for bulls, but that financials are in "a different boat. With the banks having mixed results, it looks like this sector could be in for a bit of a consolidation."