Wall Street Futures Surge on Oil Price Slide
US stock futures rose on Friday after a volatile week, led by the NASDAQ 100. The gains followed Thursday's rebound when major US indexes recovered part of their losses triggered by the Federal Reserve's latest interest rate increase.
Oil prices fell for a third straight session, with Brent crude and US West Texas Intermediate futures dropping nearly 2% each. This helped reduce some pressure on inflation expectations, as energy costs have remained a major concern for investors.
Technology stocks continued to support the Wall Street recovery, with NVIDIA rising about 1% in premarket trading, while Alphabet gained around 2%. The Dow Jones Industrial Average ended Thursday up 316.14 points at 51,778.04, and the S&P 500 climbed 1.14% to 7,637.76.
Investors also assessed the outlook for artificial intelligence spending after several industry executives called for slower development of advanced AI systems. Goldman Sachs chief US equity strategist Ben Snider said concerns had emerged that strong corporate earnings could represent an 'earnings bubble.'