Stock index futures rose on Friday after two days of declines as strong earnings from General Electric and Google boosted investor optimism.
General Electric Co
GE shares rose 4 percent to $19.16 in premarket trade.
It is sparking a good mood for the market today and for the rest of the earnings season. This could lead the market to reverse some losses that we had in the past few days, and it gives momentum to the bull trend again, said Peter Cardillo, chief market economist at Avalon Partners in New York.
S&P 500 futures rose 4.5 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures rose 26 points and Nasdaq 100 futures gained 6 points.
Shares of Bank of America Corp
of its mortgage business.
U.S. stocks fell for a second day on Thursday as lackluster earnings from technology and materials companies failed to live up to heighten expectations.
In Europe, stronger bank and oil company shares helped indexes bounce back on Friday from losses in the past session on worries about further monetary tightening by China.
(Editing by Padraic Cassidy)