U.S. stock index futures pointed to a market rebound on Friday, after the S&P 500 and Dow Jones Industrial average registered a fourth-straight day of losses on Thursday.
Futures for the Dow Jones Industrials jumped 177 points, or 0.5%, to 34,930.
Futures for the S&P 500 added 20.5 points, or 0.5%, to 4,503.50.
Futures for the NASDAQ Composite Index progressed 76 points, or 0.5%, to 15,626.75.
But stocks linked to the economic recovery bounced Friday with airlines and energy stocks higher in pre-market trading. Delta Air Lines and American Airlines traded in the green. Cyclical plays like Boeing and FedEx were also higher in pre-market trading; Boeing and FedEx added about 0.9% and 0.8%, respectively.
Wells Fargo shares jumped 2% after the bank said the CFPB consent order related to its 2016 sales practices has ended, removing an overhang on the stock.
For the holiday-shortened week, the Dow is down 1.4% and on pace for its second negative week in a row. The S&P 500 is off by about 0.9% for the week, while the NASDAQ is 0.8% lower.
Investors will be watching closely a reading of inflation out Friday morning. The producer prices index for August, a measure of wholesale costs for businesses, is expected to increase by 0.6% month-over-month, slowing from a 1% increase previously, according to economists polled by Dow Jones. The more important consumer price index will be released on Tuesday.
September is historically a weak month for stocks and investors have continued to sell stocks consistently after a weak August jobs report a week ago Friday raised questions about the state of economic recovery amid the COVID resurgence.
The central bank kicks off a two-day meeting on Sept. 21, and the Street will be watching for an update on the Fed's bond-buying program.
On Thursday the European Central Bank left its monetary policy unchanged, but said that it will slow the pace of its asset-purchase program.
Overseas, in Japan, the Nikkei 225 index raced higher 1.3% Friday, while in Hong Kong, the Hang Seng index rebounded 1.9%.
Oil prices popped $1.33 to $69.47 U.S. a barrel.
Gold prices took on 80 cents to $1,800.80 U.S. a pound.