US equity futures inched higher on Friday, extending the prior session’s rebound as a pullback in energy prices helped temper concerns over a deteriorating macroeconomic backdrop. Futures on the S&P 500, Dow Jones Industrial Average, and Nasdaq 100 traded just above the flatline.
On the rates side, longer-dated Treasury yields stayed below the multi-decade highs reached earlier in the week, with crude oil and refined product prices pausing after recent rallies. A unanimous rate hike by the FOMC also helped ease fears that the Federal Reserve might allow underlying inflation to run too hot.
In equities, Alphabet and Meta rose roughly 2.5% and 1.5%, respectively, in premarket trading, building on the recovery in AI-focused megacaps since benchmark borrowing costs peaked earlier in the week. Shares tied to AI infrastructure also advanced, clawing back losses after recent concerns over AI security risks prompted investors to reassess the pace of spending on data centers and semiconductors. Bank stocks, by contrast, edged lower.
