U.S. futures steady in cautious trade; Dow Jones up 0.02%

U.S. stock futures pointed to a steady open on Friday, as supported Thursday's upbeat U.S. economic reports still supported equity markets, although indications the Federal Reserve could begin tapering its asset purchases in the near future weighed. 

Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.02% gain, S&P 500 futures signaled a 0.03% dip, while the Nasdaq 100 futures indicated a 0.02% rise. 

U.S. equities found support after preliminary data on Thursday showed that U.S. manufacturing activity improved to an eight-month high of 54.3 in November from a reading of 51.8 in October.

A separate report showed that the number of people filing for initial jobless benefits last week fell by 21,000 to a seasonally adjusted 323,000, beating expectations for a decline of 9,000. 

The minutes of the Fed's October meeting showed earlier in the week that the central bank could start scaling back the USD85 billion-a-month asset purchase program in the “coming months” if the economy continues to improve as expected. 

Financial stocks were expected to be active, after Goldman Sachs said its currency trading business didn’t incur a loss in the last quarter, contradicting previous reports. 

Reuters had reported on Thursday that the bank posted more than USD1 billion in market-making losses on currency products in the third quarter. Goldman shares rose 0.19% in after-hour trade. 

Retailers were also likely to be in focus, after Target, which opened its first stores in Canada in March, posted third-quarter profit on Thursday that trailed analysts’ estimates after the loss in its Canadian unit was wider than expected. 

Shares in the discount retailer slid 0.30% in extended trading. 

Gap shares tumbled 1.10% pre-market as the specialty-apparel retailer maintained an annual profit forecast range signaling that the crucial holiday-shopping quarter may fall short of analysts’ expectations. 

In the tech sector, Intel plummeted 1.47% amid reports it is providing increased access to its manufacturing plants for other chipmakers, in a move to boost its revenue sources as it faces greater competition. 

Other stocks expected to be in focus included Foot Locker and PetSmart, scheduled to report earnings later in the day. 

Across the Atlantic, European stock markets were mixed to higher. The EURO STOXX 50 inched 0.01% higher, France’s CAC 40 rose 0.32%, Germany's DAX eased up 0.01%, while Britain's FTSE 100 dipped 0.03%. 

During the Asian trading session, Hong Kong's Hang Seng Index climbed 0.49%, while Japan’s Nikkei 225 Index edged up 0.10%.