U.S. stock futures traded higher early Friday after a volatile session in which the recent tech selloff resumed.
Futures for Dow Jones Industrials rocketed 124 points, or 0.5%, early Thursday, to 27,550.
Futures for the S&P 500 advanced 22.5 points, or 0.7%, at 3,352.50.
Futures for the NASDAQ Composite recovered 83.75 points, or 0.8%, to 11,249.25.
The Dow ended Thursday’s session down more than 1%, along with the S&P 500. The NASDAQ dropped 2%. All three of the major indexes had popped before closing lower.
Thursday’s declines put the S&P 500 down more than 2% for the week along with the 30-stock Dow. The NASDAQ, meanwhile, has dropped 3.5% week to date.
Another one-week decline would mark the S&P 500’s first back-to-back weekly drop since May. The broader market index was also on pace for its worst week since June 26, when it slid 2.9%.
That whipsaw action came as tech — the best-performing market sector year to date — gave up gains earlier Thursday and continued its recent downward trend. Facebook, Amazon, Apple, Netflix, Alphabet and Microsoft all closed sharply lower on Thursday. Tesla, which was up more than 8% at one point, posted a gain of just 1.4%.
Tech stocks were attempting to rebound again in premarket trading Friday. Apple was higher by 1% and Tesla gained 3% in early trading.
Peloton and Oracle rose in pre-market trading on the back of better-than-expected quarterly results. Peloton gained more than 10% and Oracle climbed 4%.
On the data front, the latest reading on the monthly U.S. consumer price index is set for release Friday at 8:30 a.m.
Overseas, in Japan, the Nikkei 225 gained 0.7% Friday, while in Hong Kong, the Hang Seng index gathered 0.8%.
Oil prices slipped 18 cents to $37.12 U.S. a barrel.
Gold prices sank $12.10 to $1,952.20.
Futures Try to Rally to End Short Week