U.S. stock index futures pointed to a higher open on Friday after upbeat results from technology bellwethers Oracle and Research In Motion.
Research In Motion Ltd
Rival Palm Inc
Tech news overnight was positive, said Bennett Gaeger, managing director at Stifel Nicolaus in Baltimore. Oracle is a barometer of the corporate spending (that) people are expecting for next year, and RIM adds to the good sentiment.
S&P 500 futures rose 2.8 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 21 points, and Nasdaq 100 futures added 3.5 points.
On a day with little economic news expected, Iraq's deputy interior minister denied reports Friday that Iranian troops had crossed into Iraqi territory and briefly occupied an oilfield.
The Select Sector SPDR Energy ETF
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)