managed to drown out the inflation drumbeat early Friday and lift stocks after a late selloff.
Index futures recently showed the
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
officials sparked a late-session swoon, sending the
down 77 points to 11,128 and handing the
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.
, meanwhile, absorbed a hit as its exclusive supply pact with Dell became part of history.
Elsewhere in tech,
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
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.
, 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.