* GE revenue ticks up, but shares fall
* McDonald's profit up, shares off as U.S. sales drop
* Futures up: Dow 41 pts, S&P 7 pts, Nasdaq 13 pts
NEW YORK, April 19 (Reuters) - U.S. stocks were set to rise at the open on Friday, bouncing back a day after the S&P 500 index closed below its 50-day moving average for the first time this year.
The market has weakened on recent economic data, and the S&P 500, down 3 percent over the past four sessions, is on track to post its worst week this year. A fall in commodity prices has further pressured stocks.
The S&P 500's close below the 50-day moving average on Thursday indicates the medium-term uptrend in the market could be in peril. The last time the index closed consecutive days under its 50-day average came in early December.
The market's expected advance is a reaction to the recent declines more than anything according to Jack De Gan, chief investment officer at Harbor Advisory Corp in Portsmouth, New Hampshire.
"It's a relief rally after the last couple of days," he said.
General Electric (Other OTC: GEAPP - news) shares fell 2.3 percent to $22.15 in premarket trading after the conglomerate reported a quarterly profit in line with expectations as GE sold more jet engines and shed its stake in NBC Universal.
S&P 500 futures rose 7 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones (DJI: ^DJI - news) industrial average futures rose 41 points, and Nasdaq 100 futures added 13 points.
McDonald's Corp shares fell 1.6 percent to $100.22 in premarket trading after it reported a first-quarter profit that fell short of Wall Street's expectations and said sales at established U.S. restaurants fell 1.2 percent.
Google's core Internet business increased net revenue 23 percent in the first quarter, softening the effect of a sharp decline in its Motorola mobile phone division. Its shares were up 1.3 percent at $775.85 in premarket trading.
IBM Corp posted quarterly earnings that missed estimates due to the depreciation of the Japanese yen and a failure to close major deals, especially in Europe and the United States. The stock, down 4.9 percent in premarket trading at $197.04, is expected to weigh on the Dow industrials.
Vertex Pharmaceuticals said Thursday an experimental drug improved lung function in adults with cystic fibrosis in a midstage trial. Its shares were up 61 percent to $85.26 in premarket trading.