Futures for the Dow Jones Industrials raced higher 225 points, or 0.7%, early Friday to 30,902.
Futures for the S&P 500 picked up 30.25 points, or 0.8%, to 3,830.
Futures for the NASDAQ Composite index hiked 98.5 points, or 0.8%, to 11,836.
All three averages are looking to snap three-week losing streaks.
On the corporate front, shares of FedEx moved higher in extended trading despite a mixed fourth-quarter report after the logistics company delivered an upbeat earnings forecast. Carnival Cruise Line is scheduled to release a business updated on Friday morning.
Economic data will be a key focus ahead, as investors try to determine if the U.S. economy is falling into a recession.
New home sales data is due out at 10 a.m. ET and the final University of Michigan consumer sentiment report for June will follow later in the day.
In Japan, the Nikkei 225 gained 1.2% Friday. In Hong Kong, the Hang Seng picked up 2.1%
Oil prices gained $2.23 to $106.50 U.S. a barrel.
Gold prices faded $2.90 to $1,826.90 U.S. an ounce.