Futures Eke up, Promising Winning Week

U.S. stock futures rose slightly early Friday as Wall Street wrapped up a winning week.

Futures for Dow Jones Industrials advanced 45 points, or 0.2%, early Friday to 24,421.

Futures for the S&P 500 sailed 6.5 points, or 0.4%, higher at 2,943.50.

Futures for the NASDAQ Composite gained 3.5 points to 9,359.25.

The major averages remained on pace for solid weekly gains. The Dow was up more than 3% week to date. The 30-stock Dow was headed for its biggest one-week gain since the week of April 9. The S&P 500 has gained 3% this week while the NASDAQ Composite is up 3% in that time.

Futures cut their losses and gained as shares of Moderna, a maker of a coronavirus vaccine candidate, rose. Dr. Anthony Fauci told NPR Friday morning that the company’s vaccine data looked “promising.” Moderna rose 5% in pre-market trading.

Gains were capped on increasing tensions with China.

Overnight, China released draft legislation over new national security measures on Hong Kong after last year’s burst of anti-government protests in the city.

That law is expected to increase Beijing’s hold over Hong Kong. China also opted against setting a Gross Domestic Product target for 2020 as the coronavirus batters the second-largest economy in the world.

That proposal was unveiled after the Senate passed a bill earlier in the week that would potentially de-list Chinese stocks from U.S. exchanges.

Overseas, in Tokyo, the Nikkei 225 faded 0.8%, Thursday, while in Hong Kong, the Hang Sang index collapsed 5.6%.

Oil prices deleted $1.51 to $32.41 U.S. a barrel.

Gold prices gained $5.90 to $1,727.80.