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Stock futures rose on Friday, putting the market on track to put a positive end to a volatile week that saw investors left disappointed over tech stocks and fearing a cryptocurrency collapse.
Futures for the Dow Jones Industrials popped 241 points, or 0.5%, to 49,239.
Futures for the S&P 500 progressed 36.75 points, or 0.5%, at 6,857.50.
Futures for the NASDAQ leaped 151.5 points, or 0.6%, to 25,802.50.
The gains came even as Amazon shares sank 7% after the ecommerce giant posted earnings per share slightly under analyst expectations and told investors to expect $200 billion in capital expenditures this year.
On the other hand, Reddit popped 9% after the social media platform announced an earnings beat, strong guidance and a stock buyback program.
Despite the issues with Amazon, other tech shares popped: Nvidia rose 3% and Microsoft gained nearly 1% after both companies saw close to double-digit percentage drops this week.
Bitcoin tumbled 16% overnight, briefly sinking below $61,000. However, the crypto leader recouped some losses Friday, adding 4% to climb back above $66,000.
The action followed a rough day on Wall Street, with the market once again bogged down by technology stocks. The tech-focused NASDAQ Composite sank roughly 1.6%, hampered in particular by Qualcomm’s 8.5% post-earnings drop.
Markets in Japan revived with the Nikkei 225 index gaining 0.8% Friday, while the Hang Seng in Hong Kong sank 1.2%.
Oil prices sifted off 20 cents to $63.09 U.S. a barrel.
Gold prices gained $16.00 to $4,905.50 U.S an ounce.
Futures Rebound After 3-Day Skid
