REUTERS: U.S. stock index futures edged higher on Friday as investors bought undervalued energy and bank stocks betting on what is expected to be the fastest economic growth since 1984, while awaiting inflation data later in the day.
Oil firms Chevron, Exxon Mobil, Marathon Oil, Occidental Petroleum and Devon Energy rose between 0.7per cent and 2.6per cent as crude prices gained 2per cent. The S&P 500 value index which includes energy, banks and industrial stocks, has gained more than 9per cent this year, easily outperforming growth shares, which are down 0.4per cent.At 6:40 a.m. ET, Dow E-minis were up 68 points, or 0.21per cent, S&P 500 E-minis were up 7.5 points, or 0.19per cent and Nasdaq 100 E-minis were up 17.75 points, or 0.14per cent.