Stocks

US Futures Surge as Earnings Season Ramps Up With Results From Major Banks

US stock futures surged Friday as traders digested earnings from major US banks. which signaled the ramp of the earnings season.

Oil prices nudged higher with global benchmark Brent crude up 1.10%, and US crude West Texas Intermediate up 1.46% recently after comments on tightening supply from the International Energy Agency.

At 8:30 am, data are expected to show import and export prices rising 0.4% and 0.3%, respectively, for March, according to data compiled by Econoday.

At 10 am, forecasters see the preliminary April reading on Consumer Sentiment Index based on the University of Michigan survey coming in at 98.0 as compared to March's 98.4 level.

In equities, shares of Anadarko Petroleum (APC) were 29.9% higher pre-bell after the oil company agreed to be acquired by Chevron (CVX) in a cash-and-stock deal valued at $33 billion.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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