Stocks were set to open moderately lower on Friday, with investors reluctant to get too enthusiastic about economic data.
Stock futures pared their losses after the Labor Department said consumer prices in April were flat, as economists predicted. Excluding declining energy and food prices, core consumer prices edged up 0.3 percent, a bit higher than forecast.
Investors were also relieved by reports that New York-area manufacturing activity and industrial production contracted less than economists expected. They also shrank significantly less than they did earlier in the year, fitting in with the trend seen in most data since early March: that the economy …
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