Futures on major U.S. stock indices point to a higher opening on Friday as strong quarterly earnings from Oracle Corp. and Research in Motion boosted sentiment.
Futures on the S&P 500 are up 0.82 percent, futures on the Dow Jones Industrial Average are up 0.67 percent and Nasdaq100 futures are up 0.85 percent.
Late Thursday, Oracle reported a 20 percent rise in first quarter net income to $1.35 billion on the back of strong sales of new software and hardware. Its earnings per share increased to 27 cents from 22 cents.
Research in Motion said second quarter earnings per share surged 76 percent to $1.46, as revenue rose 31 percent to $4.6 billion. It projects third quarter earnings per share of $1.62 to $1.70, on revenue between $5.30 and $5.55 billion.
Investors are cautious ahead of August Consumer Price Index (CPI) which is due to be released before market opens. Economists are estimating CPI to show 0.2 percent growth against 0.3 percent rise in the previous month.
Michigan Consumer Sentiment Index, which measures the level of consumer confidence in economic activity, is due for release after market opens. The index is expected to show a reading of 70.00 compared to 68.90 in the previous month.
On Friday, US stocks ended narrowly mixed as disappointing results from market bellwether FedEx offset some tepid economic data, thereby fizzling a two-week market rally.
European stocks advanced, led by gains from technology and retail shares and are currently trading higher with FTSE 100 up by 67.74 points, DAX30 up by 62.14 points and CAC 40 up by 52.78 points.
The euro advanced 0.48 percent to 1.3140 against the dollar and the yen declined 0.05 percent against the greenback.
Crude oil futures advanced 0.68 percent and copper futures rose 1.59 percent. In precious metal sector, gold futures rose 0.72 percent and silver futures gained 0.77 percent.
Asian stocks ended higher on Friday with Japanese Nikkei advanced 1.23 percent on weaker yen and Hong Kong’s Hang Seng rose 1.29 percent, while Chinese Shanghai declined 0.15 percent.
