US pre-open: Major indices look set to snap three-week losing streak
Wall Street futures were firmly in the green ahead of the bell on Friday, putting major indices on track to snap a three-week losing streak.
As of 1205 BST, Dow Jones futures were up 0.84%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.93% and 1.17% firmer, respectively.
The Dow closed 193.24 points higher on Thursday following comments from Federal Reserve chairman Jerome Powell.
Despite a solid week for the blue-chip index, expectations of a 0.75% interest rate hike at the Federal Reserve's next policy meeting continue to weigh on sentiment. The European Central bank raised interest rates by 75 basis points at yesterday's meeting and stated there would be further rate hikes to follow as part of its efforts to fight inflation.
Oil prices were in focus ahead of the bell following threats from Russia to stop exports, with Brent crude futures up 1.91% a barrel at $90.85 and West Texas Intermediate futures rising 1.72% to $84.98 per barrel.
On the macro front, July wholesale inventories numbers will be released at 1500 BST, while the Federal Reserve's Charles Evans, Christopher Waller, and Esther George will deliver speeches throughout the course of the day.
In the corporate space, DocuSign shares rallied in extended trading after posting an earnings beat and issuing third-quarter revenue forecasts that came in ahead of expectations.
No major earnings were slated for release on Friday.
Reporting by Iain Gilbert at Sharecast.com