Stocks are set to open steady on higher commodity and bond prices, but forthcoming economic data could eventually set the tone for trading Friday. Forty-five minutes before the opening bell on Wall Street, stock index futures indicate that the Dow Jones Industrial Average might add about 40 points at the open.

Stock index futures rose along with overseas markets as stronger commodities helped lift major averages across Europe. Crude oil is up 95 cents to $66.03 and gold gained $12.60 to $975.80 an ounce. UK’s FTSE is leading an advance across Europe, up 1.6 percent.

However, stock index futures came off their best levels of the day after a report on first quarter Gross Domestic Product [GDP] was revised to show a 5.7 percent decline; down from an initial reading of 6.1 percent but also below economists estimates of 5.5 percent.

Data on manufacturing and consumer sentiment are due out around 9:45 eastern time. Economists expect the Chicago Purchasing Manager’s Index to improve to 42 in May, up from 41 the prior month. The University of Michigan consumer sentiment index is expected to hold steady around 68 for May.

Bonds are seeing gains ahead of the news. The benchmark ten-year Treasury bond is up 7/32nd and yields 3.584 percent. Two days of falling bond yields is taking pressure off equities; ever since results from an auction of Treasurys sent yields sharply higher, and stocks and bonds lower, Wednesday afternoon.

Meanwhile, the dollar weakened 1.13 to 95.63 on the Japanese yen. The euro recaptured 1.40 and is running towards 1.41 on the buck.

Dell (DELL) shares are steady after the computer maker posted quarterly earnings of 24 cents per share, which topped analyst estimates by a penny. However, Tiffany (TIF) shares fell 4 percent after the retail posted in-line earnings, but revenues that fell short of Street estimates.

Finally, end-of-the-month window dressing might also affect trading today. The Dow Jones Industrial Average is up 2.9 percent heading into the final trading session of May and trying to extend a three-month winning streak.