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Stock futures were broadly higher on Friday, stabilizing after a tough session in which a sharp spike in oil prices and lackluster earnings from two megacap companies pressured the broader equity market.
Futures for the Dow Jones Industrials jumped 194 points, or 0.4%, to 52,088
Futures for the S&P 500 acquired 14.5 points, or 0.6%, to 7,494.25
Futures for the NASDAQ Composite hiked 21.75 points, or 0.1%, to 28,642.50
Intel shares jumped 3% in premarket trading after the chipmaker’s second-quarter results exceeded Wall Street’s expectations. Notably, the company’s revenue grew 25% — its strongest for any period since the third quarter of 2011.
Helping sentiment as well, the recent rally in oil prices lost momentum Friday.
The moves come after the Dow dropped more than 500 points, or around 1%, on Thursday for its fifth negative day in six. The S&P 500 and NASDAQ had their worst one-day performances since June 23, dropping 1.2% and 2.2%, respectively.
The major averages are now on pace for weekly declines. The Dow has shrunk 0.8% and S&P 500 has shed 0.7%. The NASDAQ has underperformed, losing 1.5%.
In Japan, the Nikkei 225 dropped 2.7%, while in Hong Kong, the Hang Seng wilted 1%.
Oil prices sank $2.65 to $89.54 U.S. a barrel.
Gold prices picked up six dollars to $4,056.20 U.S an ounce.
