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U.S. stocks were headed for a higher open Friday, as investors continue to mull shakeups in the tech world and the latest earnings from General Electric and Bank of America.
On Thursday, stocks closed modestly lower as technology shares remained weak, and worries about the downside of China's robust economy hung over the market.
Tech shares have gotten hammered this week with the Nasdaq down almost 2% since Monday. But overall, stocks have been on an upward trajectory this year -- with the Dow Jones industrial average now less than 200 points shy of 12,000.
There are no market moving economic reports on tap for Friday.
Companies: General Electric (GE) reported a fourth-quarter profit that topped Wall Street forecast, sending its stock up 3.4%.
The Fairfield, Conn.-based conglomerate said its fourth-quarter earnings rose 31% to $3.9 billion.
Bank of America reported a fourth-quarter net loss of $1.2 billion, or 16 cents per share. The latest results included a previously announced goodwill impairment charge of $2 billion. Shares of Bank of America (BAC) fell 2% in premarket trading.
After the market closed Thursday, Google (GOOG) reshuffled its management and reported quarterly earnings and sales that topped expectations.
In other corporate news, Warner Music (WMG) said it retained Goldman Sachs (GS) to find a buyer for all or part of the company, according to news reports. Shares of Warner Music rose 20% in premarket trading.
Oil for March delivery was flat, slipping 1 cent to $89.58 a barrel.
Gold futures for February delivery fell $4 to $1,345.70 an ounce.
The price on the benchmark 10-year U.S. Treasury rose, pushing the yield down to 3.42% from 3.45% late Thursday.
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