Investing.com--US stock index futures rose Friday, on course for a positive week with the quarterly earnings season in full flow.
At 05:50 ET (10:50 GMT), Dow Jones Futures rose 125 points, or 0.3%, S&P 500 Futures gained 20 points, or 0.3%, and Nasdaq 100 Futures climbed 95 points, or 0.4%.
The main Wall Street indices fell on Thursday, but were still set to to record a positive week, the first full trading week of 2025, after soft inflation data spurred bets that the Federal Reserve will cut interest rates further this year.
Trump's inauguration looms
The economic data slate is largely empty Friday, prompting a degree of reflection after a week that has seen cooler than expected inflation data, but also an increase in consumer spending activity and a labor market on solid ground.
Investors were now awaiting the inauguration of President-elect Donald Trump on Jan. 20, amid heightened speculation over his plans to impose trade tariffs on major economies, particularly China.
"There are lingering concerns about the 'day one'; measures, some of which are priced in, which could generate some volatility early next week," said analysts at ING, in a note.
Earnings start to ramp up
The focus also remains on the earnings season, after a string of positive bank earnings this week. A slew of major tech, industrials and consumer stocks are set to report earnings next week.
More bank earnings are expected before Friday’s opening bell, including reports from State Street (NYSE:STT) and Citizens Financial Group (NYSE:CFG).
On Thursday, Morgan Stanley (NYSE:MS) unveiled an uptick in earnings in the fourth quarter, while Bank of America's (NYSE:BAC) income for the period topped estimates. The figures came after major industry players like JPMorgan Chase (NYSE:JPM) (NYSE:JPM) and Goldman Sachs (NYSE:GS) posted solid numbers on Wednesday.
Elsewhere, JB Hunt Transport Services (NASDAQ:JBHT) slumped premarket after its fourth-quarter earnings missed expectations, while Apple (NASDAQ:AAPL) will remain in the spotlight after the tech giant suffered its worst day since August after data showed the company lost its spot as the biggest smartphone seller in China to local rivals Vivo and Huawei.
Crude heads for weekly gain
Oil prices rose Friday, heading towards a fourth consecutive weekly gain, with the latest US sanctions on the Russian crude trade continuing to offer support.
By 05:50 ET, the US crude futures (WTI) gained 0.6% to $78.30 a barrel, while the Brent contract rose 0.5% to $81.67 a barrel. Both contracts have gained roughly 3% so far this week.
The Biden administration last week announced widening sanctions targeting Russian oil producers and tankers, leading some observers to predict possible supply disruptions and price increases.
(Ambar Warrick contributed to this article.)