U.S. stock futures were down in early trading, indicating a lower opening for stocks, as oil rebounded after closing below the $47 a barrel mark Thursday.

The June light crude contract added 41 cents to $47.33 a barrel in electronic trading, while the July contract for Brent crude gained 33 cents to $48.21.

S&P index futures lost 2.3 points, futures on the Dow Jones industrial average were down 21 points and Nasdaq 100 contracts shed 3.5 points.

The dollar was trading at 107.51 yen at 5 p.m. Friday, up 0.39 yen vs. late Thursday in Tokyo but still below the 107.65 yen it bought in New York later that day. The dollar traded between 107.45 yen and 107.77 yen in Tokyo.

The euro dropped to $1.2646 late Friday afternoon from $1.2665 late Thursday in Tokyo but climbed to 135.81 yen vs. 135.66 yen.

The euro was at $1.2624, versus $1.2633 in U.S. trading.

French GDP rose 0.2% in 1Q, slower than the 0.5% forecast by economists. Moreover, 4Q 2004 GDP was downwardly revised to 0.7% from 0.9%.

The major international markets traded mixed on Friday. The UK's FTSE index added 8.60 points to 4,971.30, the German DAX gained a point to 4,360.57 and France's CAC 40 advanced 3.81 points to 4,089.79.

In Asia, the Japanese Nikkei 225 shed 39.87 points to close at 11,037.29, while Hong Kong's Hang Seng edged up 18.49 points to 13,717.42.

The semiconductor book-to-bill ratio was released late Thursday, with the measure climbing to 0.8 for April from a downwardly revised 0.78 in March. The book-to-bill has been in the range of 0.77 and 0.8 for the past 4 months after having been in the 0.9 range during the preceding 4 months.

Maytag (MYG: chart) said late Thursday that it has agreed to be bought by an investor group led by private equity firm Ripplewood Holdings LLC. The company announced a purchase price for the deal of $14 per share in cash, with a total transaction value, including about $975 million in debt assumption, of about $2.1 billion. Maytag expects the deal to close before the end of the year.

America West (AWA: chart) and US Airways confirmed their merger deal late Thursday. The new airline will operate as US Airways but will be run by America West CEO Doug Parker. The deal is expected to close this fall.

After the bell Thursday, Gap (GPS: chart) released 1Q earnings of $0.31 per share, down vs. $0.33 per share a year earlier, but above analysts' estimate of $0.30 per share. The company also boosted its outlook for the full fiscal year, from a prior target range of $1.41-$1.45 per share to a new target of $1.44-$1.48 per share.

No major corporate earnings results or economic data are expected to be reported Friday.