Stock futures rose ahead of Friday’s session following a report that ceasefire talks could be gaining traction between Russia and Ukraine.
Futures for the Dow Jones Industrials leaped 351 points, or 1.1%, to 33,395.
Futures for the S&P 500 regained 52 points, or 1.2%, to 4,300
Futures for the NASDAQ Composite Index rebounded 210 points, or 1.6%, to 13,793.25.
Week to date, the Dow is down 1.3% and headed for its fifth negative week in a row since May 2019. Meanwhile, the S&P is down 1.6% and the NASDAQ is off 1.4% this week.
Russian President Vladimir Putin said that “certain positive shifts” have occurred in the talks.
Meantime, tensions continued to heat up on the Ukraine situation, with U.S. President Joe Biden expected to call for an end to Russia’s status as a preferred trade partner, according to a Bloomberg News report. Also, Congress passed a funding bill that includes $14 billion of Ukraine aid.
Shares of Rivian slipped more than 11% in extended trading after missing estimates for the fourth quarter on the top and bottom lines, while DocuSign sank 18% after issuing weak guidance for the first quarter and fiscal year.
The main event on the economic calendar Friday is the preliminary reading for the University of Michigan consumer confidence survey, expected to nudge higher to a reading of 62 from 61.7 in February.
In Asia, the Nikkei 225 index lost 2.1% Friday, while in Hong Kong, the Hang Seng index slipped 1.6%.