U.S. stocks pared losses on Friday, with the Dow industrials actually breaking into positive territory during the afternoon session, as encouraging durable goods data helped soften bouts of profit-taking ahead of the long weekend. Benchmark indices were still on pace to break four straight weeks of gains. 

U.S. stock futures trimmed losses Friday after durable goods orders data for April surprised investors with a better-than-expected rise, as traders were cautious heading into the long weekend,with markets to be shut Monday for the Memorial Day holiday. 

A series of American retailers reported a mixed bag of quarterly results after the bell. Sears Holdings (NASDAQ: SHLD) confirmed investor fears, sending the stock tumbling after the company reported a first-quarter loss twice as large as expected. After returning to the black in the fourth quarter following three-straight losing quarters, the Sears department store holding company says it lost $279 million, or $2.63 per diluted share.

Soligenix (OTCQB:SNGX) shares extended their year-to-date gains on Wednesday after the biopharmaceutical company announced that it has been granted a U.S. patent for its Thermovax vaccine thermostabilization technology. 

U.S. stocks are getting a lift from Federal Reserve comments about the central bank's bond-buying program. The Dow Jones Industrial Average (INDEXDJX:.DJI) rose nearly 70 points after dipping below the previous close early in the trading session.