Stocks Due for Solid Week of Gains

U.S. stock index futures rose slightly on Friday as the major indexes headed for solid weekly gains.

Futures for the Dow Jones Industrial Average gained 71 points, or 0.3%, at 25,498.

Futures for the S&P 500 tacked on eight points, or 0.3%, to 2,751.50

NASDAQ futures picked up 23.25 points, or 0.3%, to 7,043

The 30-stock Dow and NASDAQ were both on pace to post their eight consecutive weekly gain. The S&P 500, meanwhile, was on track for its seventh weekly gain in eight. The indexes were all up more than 1% entering Friday's session.

Stock markets in the States will be shut down Monday for Presidents’ Day.

Stocks got a boost this week amid hope that a trade deal between the U.S. and China will be reached. A U.S. trade delegation led by Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer was in Beijing this week. Chinese President Xi Jinping said talks will continue next week in Washington.

China and the U.S. are trying to strike a trade deal before an early March deadline. If a deal is not reached by then, additional U.S. tariffs on Chinese goods could take effect. President Donald Trump, however, is considering pushing back the deadline by 60 days to give negotiators more time to come up with a deal

On the data front, there will be industrial production numbers out at 9.15 a.m. ET and consumer sentiment out at 10 a.m. ET.

Overseas, in Japan, the Nikkei 225 retreated 1.1%, while in Hong Kong, the Hang Seng fell 1.9%.

Oil prices advanced 53 cents to $54.94 U.S. a barrel.

Gold prices brightened $7.20 to $1,321.10 U.S. an ounce.