Stocks Steady Amid Lower Oil Prices and Rate Hike

U.S. stock index futures were steady on Friday as lower oil prices eased some inflation fears.

The Dow futures contract was mostly unchanged, while S&P 500 and Nasdaq 100 futures gained 11 points (0.1%) and 108 points (0.4%), respectively.

The rally in stocks followed a Federal Reserve interest rate hike on Wednesday, which many investors interpreted as an indication of the central bank's commitment to controlling energy-fueled inflation pressures.

Analysts at Deutsche Bank noted that oil price movements have been one of the main drivers of stocks this week, with worries about elevated crude prices sparking concerns over a prolonged period of energy-fueled inflation.