U.S. stock index futures climbed on Friday, with tech shares gaining after a pullback in the previous session, as Oracle's solid quarter restored faith that tech-related companies are emerging stronger from the coronavirus crisis.
The cloud services company added 3.4per cent in premarket trading after its quarterly results beat estimates and it signaled a recovery in client spending due to higher remote working-led demand.Peloton Interactive Inc surged 11.2per cent after it beat quarterly revenue estimates as the exercise bike maker recorded a surge in subscribers and increased demand for its fitness products during the pandemic.
The three main U.S. stock indexes were headed for a second straight weekly decline, with the Nasdaq eyeing its steepest weekly fall since March after concerns over the massive build-up in call options tied to tech names exacerbated the selloff. Recent economic indicators suggest a long and difficult recovery from the pandemic, especially in the labor market. Data at 8:30 a.m. ET is expected to show U.S. consumer prices dipped in August from the prior month.
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