U.S. stock futures rose on Friday with the S&P 500 headed for its best week since April in a comeback from last week's swoon induced by worries about a tighter Federal Reserve.
Futures for the Dow Jones Industrials gained 111 points, or 0.3 %, to 34,193.
Futures for the S&P 500 increased 4.25 points, or 0.1%, to 4,260.25.
The NASDAQ jumped 12.75 points, or 0.1%, to 14,367.
The S&P 500, which closed at a record Thursday, is up 2.4% for the week so far, which would be its best gain since early April. The Dow is up 2.7% this week and the NASDAQ is up 2.4% since last Friday.
Nike's stock surged 12% in pre-market trading, helping to boost sentiment for the Dow. The company reported earnings and revenue that blew past Wall Street estimates. Digital sales also jumped 41% since last year and 147% from two years ago.
Bank of America gained 1.4%, and Wells Fargo rose 2%, in the pre-market.
Shares of the major U.S. banks popped after the Federal Reserve announced the industry could easily withstand a severe recession.
The Fed, in releasing the results of its annual stress test, said the 23 institutions in the 2021 exam remained “well above” minimum required capital levels during a hypothetical economic downturn. The decision cleared the way for the banks to raise dividends and buy back more stock, which was suspended during the pandemic.
Shares of Caterpillar jumped 2.6% on optimism around an infrastructure deal on Thursday. The shares were higher by another 1% in pre-market trading Friday.
On the flipside Friday, FedEx dipped 4% in pre-market trading despite beating on the top and bottom lines of its earnings. FedEx also gave a strong yearly outlook.
Overseas, in Japan, the Nikkei 225 gained 0.7%, while in Hong Kong, the Hang Seng index gained 1.4%.
Oil prices fell 18 cents to $73.12 U.S. a barrel.
Gold prices dipped eight dollars to $1,784.70 U.S.