Futures Hike as Recovery Stocks Gain - InvestingChannel

Futures Hike as Recovery Stocks Gain



Stock futures moved modestly higher early Friday as Wall Street looked to end the volatile week on a high note.

Futures for the Dow Jones Industrials gathered 136 points, or 0.4%, to 32,637.

Futures for the S&P moved higher six points or 0.2%, to 3,906.50.

The NASDAQ Composite index dropped 62.5 points, or 0.5%, to 12,708. Friday,

Classic reopening plays rose again in pre-market trading, building on the momentum from the previous session. United Airlines jumped 2% in early trading, while Carnival climbed more than 2.5%.

Futures were also boosted by bank stocks, which rose after the Fed announced that banks could resume buybacks and raise dividends starting at the end of June. The central bank originally said it would lift pandemic era restrictions in the first quarter, but even the delayed move gives investors more clarity.

Shares of JPMorgan and Goldman Sachs gained 1% each, while Bank of America also jumped 1.5% in pre-market trading.

On the economic data front, investors will get another look at inflation possibilities on Friday, with reports due for personal income and consumption expenditures in February.

Overseas, in Japan, the Nikkei 225 regained 1.6% Friday, while in Hong Kong, the Hang Seng spiked 1.6%.

Oil prices picked up $1.55 to $60.11 U.S. a barrel.

Gold prices lost $2.30 to $1,722.80 U.S.