In this February 5, 2010, file photo Toyota Motor Corp
President and CEO Akio Toyoda, 53, speaks during his
first news conference since Toyota announced a recall
for faulty gas pedals on January 21 affecting 4.5 million
vehicles.

Stock index futures pointed to a lower open on Wall Street on Friday, after heavy falls in the previous session and following declines in Europe and Asia, with some caution expected ahead of a key labour market report. The FTSEurofirst 300 index of leading European shares was down 1.6 per cent at 976.82 points, and had hit a two-month low, on growing worries about sovereign debt in euro zone peripheral countries, with banks taking most off the index. A Reuters poll predicted non-farm payrolls grew by 5,000 in January, after a surprise 85,000 drop in December. The unemployment rate is expected to edge up to 10.1 per cent in January from ten per cent. Shares of Illumina Inc fell three per cent to $35.51 in extended trade on Thursday after the company reported quarterly results. Aetna reports results, with uncertainty over the fate of health reform clouding the outlook for health insurers in 2010.

Analysts expect the company’s earnings to fall to 42 cents per share from 96 cents in the same quarter of 2008. Timber developer and home builder Weyerhaeuser Company posted a smaller fourth quarter loss which missed market expectations, hurt by a weak housing market in the United States. Tyson Foods reports first-quarter results. The meat company is expected to report a profit of 18 cents per share, compared to a loss of 29 cents a share a year ago. Corning hosts its analysts’ day, where the specialty glass maker will discuss its belief in the strength of the LCD TV market and the continuing trend of people replacing their TVs. The Barack Obama administration’s proposed “Volcker rule” could impact about ten per cent of Goldman Sachs net revenues, a senior executive of the Wall Street giant told a US Senate committee.

The remarks came in the second of two hearings this week by the Senate Banking Committee on Obama administration proposals made last month to limit risk-taking by major banks in the wake of the financial crisis. Finance ministers and central bank governors from the Group of Seven nations gather in the Arctic Canadian town of Iqaluit this weekend. They will touch on foreign exchange issues as part of a broader economic discussion and may bring up the Chinese currency among other matters. The Dow Jones industrial average briefly fell below the crucial 10,000 mark on Thursday as stocks suffered their worst losses in more than nine months on escalating sovereign debt problems in Europe and an unexpected rise in jobless claims. The S&P 500 fell 3.1 per cent. (Reuters)