U.S. stock index futures rose on Friday, rebounding from sharp losses in the prior session as megacap technology and retail names advanced. At 05:57 a.m. ET, Dow E-minis were up 173 points, or 0.33%, S&P 500 E-minis gained 26 points, or 0.34%, and Nasdaq 100 E-minis rose 187 points, or 0.64%.
The rebound followed a steep weekly decline, with all three major indexes on track for losses of about 2% for the week. The S&P 500 and Nasdaq were set to end a three-week winning streak after Thursday's broad retreat. The 30-year Treasury bond yield hit its highest level since 2007 earlier in the week, while Bitcoin touched its highest mark since late May.
Megacap technology shares led premarket gains, with Meta and Tesla each up about 1%. Nvidia, however, extended its losing streak to five straight sessions. Among individual movers, Ross Stores surged 9% after raising its annual profit forecast and reporting better-than-expected second-quarter results. The gains in retail were mirrored in crypto-linked equities, with Coinbase Global rising 6.7%, Strategy up 10.2%, and Robinhood advancing 5.5%.
UBS Global Wealth Management raised its year-end target for the S&P 500 to 8,100, citing improving earnings momentum. Traders reduced expectations for a Federal Reserve rate hike by September, with the CME FedWatch Tool indicating a 34.6% probability, down from 54.5% a month earlier. U.S. Treasury Secretary Scott Bessent said on Thursday the government could expand Treasury repurchases following Wednesday's surprise intervention.
