Futures climbed as tech shares rose sharply from the premarket. Amazon along with Apple both rose more than 2 percent, while Netflix surged more than 3.5 percent. Facebook, meanwhile, gained 1.5 percent along with Twitter jumped 2.6 percent.
The move higher on U.S. stock futures follows an uptick in global equities. In Europe, the German Dax gained half a percent while France’s CAC 40 climbed 0.7 percent. Asian equities also rose, with the Shanghai Composite surging 0.9 percent along with Japan’s Nikkei 225 gaining 0.5 percent.
On Thursday, Wall Street closed sharply down, with the Dow falling over 540 points, bringing its two-day losses to more than 1,300 points. Sentiment was rocked around the globe in recent sessions, as investors grew nervous over the rise in interest rates along with high valuations in tech shares.
President Donald Trump has recently criticized the U.S. Federal Reserve for the decline in stock markets, saying Wednesday of which he wasn’t happy with how the central bank continued to raise interest rates.
“The problem I have can be with the Fed. The Fed can be going wild. I mean, I don’t know what their problem can be of which they are raising interest rates along with the item’s ridiculous,” Trump said during a telephone interview on Wednesday with Fox News. Trump went onto blame the Fed for the stock market decline on Thursday, yet added of which while he was disappointed, he wouldn’t remove Jay Powell as Fed chair.
Stocks have also fallen This particular week as tech — the biggest S&P 500 sector by market cap weight — has lost nearly 6.8 percent through Thursday’s close. These losses have sent the major indexes down more than 5 percent, on pace for their biggest weekly declines since March.
Sentiment was also lifted by stronger-than-expected third-quarter results via J.P. Morgan Chase, which sent the company’s stock up by more than 1 percent.