Dell, AMD Lift Premarket Futures

Bond yields, gold, oil and the dollar rise.
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Strength in

Dell

(DELL) - Get Report

and

AMD

(AMD) - Get Report

managed to drown out the inflation drumbeat early Friday and lift stocks after a late selloff.

Index futures recently showed the

S&P 500

trading 2.5 points above fair value, while the Nasdaq 100 was set for a 6-point gain. The 10-year Treasury bond fell 6/32 in price to yield 5.08%, while the dollar rose against the yen and euro.

Overseas markets were higher, with London's FTSE 100 recently adding 0.1% to 5677 and Germany's Xetra DAX rising 0.2% to 5678. In Asia, Japan's Nikkei rose 0.4% overnight to 16,155, while Hong Kong's Hang Seng firmed 0.3% to 16,313.

Most commodity prices rose, with June crude adding 47 cents to $69.92 a barrel, gold adding 10 cents to $681 an ounce, and gasoline adding half a cent to $2.02 a gallon. Copper fell 7 cents to $3.64 a pound.

On Thursday, a series of hawkish comments from various

Federal Reserve

officials sparked a late-session swoon, sending the

Dow

down 77 points to 11,128 and handing the

Nasdaq Composite

its eighth consecutive losing session. Since threatening an all-time high last week, the Dow is now off 5%, while the Nasdaq has lost 7% during its nearly two-week pasting.

Last night's news from Dell could be the tech index's best chance of halting the slide. The computer maker was up 5% overseas after outlining a $3 billion cost restructuring and saying it would start manufacturing computers with Advanced Micro processors. As expected, the company also reported an 18% decline in first-quarter earnings.

AMD's shares surged nearly 12% on the news, building on its 42% gain since the start of 2005.

Intel

(INTC) - Get Report

, meanwhile, absorbed a hit as its exclusive supply pact with Dell became part of history.

Elsewhere in tech,

Autodesk

(ADSK) - Get Report

rose despite reporting a 36% decline in first-quarter earnings that reflected stock-options expense. Adjusted earnings of 32 cents a share were a penny ahead of estimates, while sales easily surpassed forecasts.

To view Ana Dane's video take on today's premarket action, click here

.

The

Gap

(GPS) - Get Report

reported lower first-quarter net of $242 million, or 28 cents a share, that topped estimates by a penny. The stock rose as the retailer affirmed guidance and vowed product improvements at its three main chains.

Marvell

(MRVL) - Get Report

, the advanced chip maker, earned an adjusted 44 cents a share in its first quarter, beating estimates by 2 cents thanks to a 40% rise in revenue. The stock gained 6% after hours.