Stock futures were slightly higher Friday morning as the market looks to close out a week of gains that have taken major indexes back to record-high levels.
Futures tied to the Dow Jones Industrial Average were up 0.1% recently, while those linked to the S&P 500 and the Nasdaq each rose 0.2%. The tech-heavy Nasdaq Composite closed at a new high on Thursday, as chip stocks surged, while the benchmark S&P 500 index, which fell slightly yesterday, enters today’s session just 0.8% away from a record closing high of its own.
Each of the major indexes is on track to post gains for the week—the S&P 500 and Dow are both up more than 1%, while the Nasdaq has tacked on nearly 3%, as of Thursday’s close—after recording their biggest weekly losses in several months last week. Market concerns about tariffs and the health of the economy have subsided this week, even as the U.S. imposed hefty tariffs on dozens of trade partners after several delays.
Shares of the world’s largest technology companies were mostly higher in premarket trading, though the moves were small. Nvidia (NVDA), Apple (AAPL) Alphabet (GOOG), Amazon (AMZN), Meta Platforms (META) and Broadcom (AVGO) each rose less than 1%, while Microsoft (MSFT) and Tesla (TSLA) ticked lower.
Among other noteworthy tech sector movers, shares of embattled chipmaker Intel (INTC) were up more than 1%, rebounding from Thursday’s 3% decline, as CEO Lip-Bu Tan said he has the support of the company’s board after President Donald Trump called for his resignation. Chips giant Advanced Micro Devices (AMD) rose nearly 2%, adding to yesterday’s 6% gain, while Taiwan Semiconductor Manufacturing Co. (TSM), which surged 5% the previous session, inched higher after reporting strong sales figures.
There were a handful of big post-earnings moves this morning. Shares of travel site operator Expedia (EXPE) and fintech firm Block (XYZ) surged 15% and 8%, respectively, while social media platform Pinterest (PINS) dropped 12% and adtech company The Trading Desk (TTD) plunged more than 30%.
Gold futures rose 0.8% to $3,480 an ounce, extending a week-long rally that has pushed the price of the precious metal back to record-high levels. Gold has surged since the release last Friday of the July jobs report, which showed that the labor market was far weaker than economists thought, boosting expectations that the Federal Reserve will cut interest rates.
West Texas Intermediate futures, the U.S. crude oil benchmark, rose 0.5% to $64.20 per barrel, rebounding from six straight days of declines.
The yield on the 10-year Treasury, which affects borrowing costs on a wide array of consumer and business loans, was at 4.26% this morning, up from 4.24% at yesterday’s close. The yield fell as low as 4.18% earlier this week, its lowest level in three months, amid the rising expectations for a rate cut by the Fed
The U.S. dollar index, which measures the performance of the dollar against a basket of foreign currencies, slipped 0.1% to 98.26.
Bitcoin was trading at $116,700, down from an overnight high of $117,700.