U.S. stock index futures rose on Friday on upbeat results from technology bellwethers Research In Motion and Oracle.
Research In Motion Ltd
Oracle and RIM earnings are renewing optimism the economy is back on the right track, said Andre Bakhos, president of Princeton Financial Group in North Brunswick, New Jersey.
The market is hungry for data that reinforces a recovery scenario, and it got what it asked for. Call it an early Christmas present, he said.
S&P 500 futures rose 4.2 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 gained 33 points, and Nasdaq 100 futures added 6 points.
Crude futures rose 1.7 percent to near $74 a barrel after an Iraqi official said Iranian troops briefly entered Iraq's Fakka oilfield briefly on Thursday, and on the prospect of increased winter demand. [ID:nSGE5BH07L]. Exxon Mobil Corp
Friday marks the expiration of December options and futures, a convergence known as quadruple witching, and often means increased volatility as big investors adjust or exercise derivatives positions.
Activist investor Carl Icahn reported taking an 11.3 percent stake in Take Two Interactive Software Inc
U.S. stocks fell on Thursday as a rebounding dollar spurred safe-haven trade, cutting demand for riskier assets, and a soft forecast from bellwether FedEx Corp
(Editing by Jeffrey Benkoe)