April 26, 2019 / 1:20 PM / 25 days ago

US STOCKS-Wall St set for flat open after mixed results, GDP data

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* Q1 advance GDP data up 3.2% on an annual basis

* Ford jumps after Q1 profit, revenue beat estimates

* Intel slides as data center sales remain weak

* Futures: Dow off 0.05%, S&P up 0.09%, Nasdaq rises 0.39% (Adds comment, updates prices)

By Sruthi Shankar and Amy Caren Daniel

April 26 (Reuters) - U.S. stocks were set to open little changed on Friday following a mixed batch of earnings, while investors assessed data that showed U.S. growth was boosted by temporary factors in the first quarter.

The Commerce Department said gross domestic product increased at a 3.2 percent annualized rate, lifted by trade and the largest accumulation of unsold goods since 2015, factors that are likely to reverse in the coming quarters.

Growth was also boosted by an increase in government investment, which offset sharp slowdown in consumer and business spending.

“The data is a vote of confidence that tells us the economy is humming and fears of a slowdown have been assuaged for the moment,” said Andre Bakhos, managing director at New Vines Capital LLC in Bernardsville, New Jersey.

“Markets have been very strong all year, and this confirms that things are going fine, but we could see some volatility as investors dissect these numbers.”

The data comes as investors look for fresh catalysts to push the markets higher, with the S&P 500 now 0.5% below its record high hit in late September, helped by largely positive earnings reports.

Nearly 78% of the 178 S&P 500 companies that have reported so far have surpassed earnings estimates, according to Refinitiv data.

Wall Street now expects earnings to be in line with the year-ago quarter, a sharp improvement from the 2.3% fall expected at the start of April.

At 9:02 a.m. ET, Dow e-minis were down 12 points, or 0.05%. S&P 500 e-minis were up 2.5 points, or 0.09% and Nasdaq 100 e-minis were up 30.75 points, or 0.39%.

Amazon.com Inc rose 1.8% in premarket trading after the e-commerce giant reported quarterly profit that doubled and beat estimates on soaring demand for its cloud and ad services.

Ford Motor Co shares surged 7.3% after the automaker posted better-than-expected first-quarter earnings largely due to strong pickup truck sales in its core U.S. market.

Among decliners, Intel Corp slumped 7.8% after it cut its full-year revenue forecast and missed quarterly sales estimate for its key data center business.

Exxon Mobil Corp fell 2.2% after its quarterly profit missed estimates on lower oil and gas prices as well as weakness in its refining and chemicals businesses.

Mattel Inc jumped 7.3% after the toymaker beat analysts’ estimates for quarterly revenue, as a more diverse range of Barbie dolls powered sales in the United States. (Reporting by Sruthi Shankar and Amy Caren Daniel in Bengaluru; Editing by Anil D’Silva)

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