(Reuters) – US equity index futures rallied on Friday as Nike jumped after strong results and bank stocks rose after cleansing the Federal Reserve's stress tests.
However, futures fell sharply before recovering from the news site Axios President Donald Trump has repeatedly told his top officials he wants the US to withdraw from the World Trade Organization.
On the last trading day of the first half of 2018, Nike prevailed, with pre-market shares up 10 percent after the sports footwear manufacturer returned to growth in North America and made an optimistic forecast.
Financial stocks that experienced a 1
Wells Fargo jumped 3.6 percent, Citigroup 1.8 percent, Bank of America and JPMorgan 1.5 percent.
The profits of Goldman Sachs, Morgan Stanley and State Street were slightly smaller as they went through the test with conditions.
At 7:35 CET, Dow e-Minis had risen by 100 points, or 0.41 percent. S & P 500 e-Minis rose 10 points, or 0.37 percent, and Nasdaq 100 e-Minis rose 29 points, or 0.41 percent.
After a difficult week and even year, the benchmark S & P 500 holds a slim 1.62 percent profit for the year, heading for its lowest profit for the first half of a year since 2015.
The Index is 5.4 percent below its record intraday high, hit on Jan. 26 as worries over trading rise Interest rates and political uncertainties have shaken markets.
Among equities, KBH Homes rose 7.2 percent after second-quarter results exceeded Wall Street's estimates.
A report from the Department of Commerce at 8:30 am ET is expected to show the personal consumption index (PCE), excluding food and energy, rose 0.2 percent in May. The PCE is the US Federal Reserve's preferred inflation measure.
The report should also show that consumer spending rose 0.4% in May, down 0.6% on April.
(Report by Amy Caren Daniel in Bangalore, edited by Shounak Dasgupta)