NEW YORK ( TheStreet) -- Stock futures were rising Friday, pointing to a rebound after two sessions of deep, Federal Reserve-related selloffs that culminated in the largest drop in equity prices since November 2011, leading to an environment for bargain-hunting stock pickets. CarMax ( KMX) shares were gaining more than 8.5% to $48.47 after the used car dealership chain booked earnings of 64 cents a share on revenue of $3.31 billion, beating the average Wall Street earnings estimate of 53 cents a share on $2.81 billion in revenue, as same store sales increased by 17%. Facebook ( FB) shares were gaining 2.6% to $24.52 after it and Instagram announced on Thursday that the photo-sharing social network is adding a video component to its network, called Video on Instagram. Futures for the S&P 500 were rising 7.75 points, or 10.36 points above fair value, to 1,591.75. Futures for the Dow Jones Industrial Average were gaining 60 points, or 80.68 points above fair value, to 14,761. Futures for the Nasdaq were adding 13.75 points, or 10.42 points above fair value, to 2,893.75. The economic calendar for Friday is empty following a crowded week of announcements punctuated by Fed Chairman Ben Bernanke pronouncements Wednesday afternoon outlining possible criteria for curbing the stimulus measures that have fueled equities for more than a year. Friday, however, does offer a quadruple-witching day of futures and options contracts expirations, which could bring greater than normal volume and volatility. As for equities this week, U.S. stock markets plunged the most in 19 months Thursday on fears the Fed is working on plans to reduce its bond-buying stimulus program. Bernanke's comments also lent credence to the notion that interest rates may be adjusted upward, and that and that mortgage rates, currently at historic lows, could follow as well. "Markets don't like change and you are seeing that evidenced in the selloff of the last few days," Greg Sarian, the Philadelphia-based managing director and partner of the Sarian Group at HighTower, wrote in an email. "What investors are not paying attention to is the very reason the Fed is considering a change in policy is that the economy is slowly but surely getting better." Oracle ( ORCL) reported Thursday fiscal fourth-quarter earnings that met Wall Street expectations, hiked its dividend, and extended its share buyback program. But the stock prolonged its declines into premarket trading Friday, down more than 6.5% to $30.95, as investors fixated on the company's disappointing and flat revenue growth, as its cloud ambitions were met with sluggish-looking results. Zynga ( ZNGA) shares were declining more than 1% to $2.82 after the social videogame maker was cut to "underweight" from "equal weight" by Morgan Stanley analysts, who cited concerns that the company's shift to mobile will be more costly and prolonged than previously expected and that the stock's risk-reward proposition is unattractive. Many overseas markets were recovering after the prior session's deep declines. The Nikkei 225 in Japan settled up 1.66% Friday while the Hong Kong Hang Seng closed down 0.59% as the selling of Chinese bank shares listed in Hong Kong eased amid rumors that the People's Bank of China wants to see the biggest banks in the country make more cash available and help lessen the liquidity problems in the financial markets. The FTSE 100 in London was rising 0.89% and the DAX in Germany was up 0.16%. The benchmark 10-year Treasury was rising by 7/32, diluting the yield to 2.395%. The dollar was up 0.14% to $82.03 according to the
U.S. dollar index. August gold futures were popping $8.30 to $1,294.50 an ounce, while August crude oil futures were up 10 cents to $95.24 a barrel. Follow @atwtse Written by Andrea Tse in New York >To contact the writer of this article, click here: Andrea Tse.