Stocks headed for mixed start

Click the chart for more premarket data. By CNNMoney staffApril 29, 2011: 6:35 AM ET

NEW YORK (CNNMoney) — U.S. stocks were headed for a soft opening Friday, as investors await quarterly reports from major U.S. companies and economic data on consumer spending.

Dow Jones industrial average (INDU) futures were lower ahead of the opening bell, but S&P 500 (SPX) and Nasdaq (COMP) futures were slightly higher. Futures measure current index values against perceived future performance.

On Thursday, U.S. stocks rose to multi-year highs, as investors dismissed a series of mixed earnings reports as well as disappointing economic news.

Economy: Before the start of trading, investors will digest data on personal income and spending. Economists polled by Briefing.com expect spending to increase to 0.5%, and income to rise 0.4% in March.

Companies: Ahead of Friday’s opening bell, Dow component Caterpillar (CAT, Fortune 500) will report quarterly earnings. Analysts polled by Thomson Reuters expect the manufacturing giant to post a profit of $1.31 cents per share.

Chevron (CVX, Fortune 500) and Merck (MRK, Fortune 500) are also slated to deliver quarterly results early on. Analysts forecast Chevron will post a profit of $3.00 per share. Merck is expected to report quarterly results of 84 cents a share.

World markets: On Friday, the London Stock Exchange was closed for the royal wedding.

European markets gained in morning trading. The DAX in Germany added 0.2% and France’s CAC 40 rose 0.6%.

Asian markets ended the session mixed. The Shanghai Composite rose 0.8%, while the Hang Seng in Hong Kong slipped 0.4%. Japan’s Nikkei was closed for holiday.

Currencies and commodities: The dollar fell against the euro, the Japanese yen and the British pound.

Oil for June delivery slipped 15 cents to $112.70 a barrel.

Gold futures for June delivery rose $5.40 to $1,536.50 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury was unchanged, with the yield at 3.31%. 

First Published: April 29, 2011: 6:30 AM ET