Stocks slated to rise for a second day as Dow futures add 100 points
NEW YORK / CNBC — Stock futures moved further into the green early Friday morning after major averages rebounded from a three-day losing streak in the last session, which was led by technology shares.
Futures on the Dow Jones Industrial Average indicated an opening gain of about 101 points. S&P 500 futures increased by 0.3 percent and Nasdaq rising by 0.2 percent.
Bitcoin, which shook markets with a 30 percent collapse earlier in the week, was stable for a second day around the $40,000 range. Major tech shares were set to continue their rebound. Tesla was higher by 2% in premarket trading. Netflix was also higher.
Gains were broad across some sectors early Friday. Cruise lines gained after Carnival said some brands would resume cruises in July. Carnival added 1 percent in premarket trading.
Ford, which said Thursday it has 20,000 reservations for its new electric F-150 pickup, gained 1.7% in early trading.
Home Depot shares rose 0.7% after the retailer announced a new $20 billion share buyback program.
In another sign of market confidence, new IPO Oatly, which jumped 18% on Thursday in its Nasdaq debut, was up 8% in premarket trading on Friday.
Despite Thursday’s rebound, the Dow is down 0.9% in the past week, on track to see its fourth negative week out of the past five weeks.
The S&P 500 is 0.4% lower on the week, on pace for its second negative week in a row. The Nasdaq Composite is up 0.8%, positioned to break a 4-week losing streak.
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