US Stocks Look Poised To End Week On High Note As Nasdaq, S&P 500 Futures Jump — Intel, T-Mobile In Focus

U.S. stocks are looking to close out the week on a firm note, with the major index futures pointing to a moderately higher start on Friday.

The major U.S. averages went about in a listless manner on Thursday before a late-hour buying surge helped the indices to close firmly in the green. Financial and healthcare stocks led the gains of the session, while communications, consumer staples and utility stocks bucked the uptrend.

Fed Chairman Jerome Powell’s fixation on inflation fighting supported bond yields and, in turn, the financial stocks.

Analysts are divided over whether the market has hit a bottom. Big short fame Michael Burry and Guggenheim’s Scott Minerd are among those who have recently predicted more pain for the markets in the months ahead.

The S&P 500 Index is now back above 4,000 for the first time this month and appears on track to snap a three-week losing streak.

In premarket trading on Friday, the SPDR S&P 500 ETF Trust SPY was rising 0.87% to $403.88 and the Invesco QQQ TrustQQQ was moving up 1.13% to $303.91, according to Benzinga Pro data.

On the economic front, two Fed speeches scheduled for the day will likely be on investors’ radar. Fed board member Christopher Waller and Kansas Federal Reserve Bank President Esther George are scheduled to speak on the economic outlook at 12 p.m. ET.

See also: 'We Have Not Hit Bottom Yet:' Michael Burry Calls Out Recent Market Crashes — What Could Be Next?

Stocks In Focus:

• Intel Corporation INTC is in the spotlight as President Joe Biden is expected to attend the company’s Ohio microchip plant ground-breaking ceremony.
• T-Mobile US, Inc. TMUS shares are moving after the company announced a $14 billion stock buyback program.
• Retailer Zumiez, Inc. ZUMZ is pulling back sharply in reaction to its quarterly results released late Thursday.
• Supermarket chain Kroger Co. KR is scheduled to release its earnings report ahead of the market open.

Crude, Global Markets

Crude oil futures are higher for a second straight session, although they are trading way off the year’s high of $123.18 a barrel. A barrel of WTI crude was at $84.75, up about 1.45%.

The Asian markets were in a sea of green, with the positive lead from Wall Street inspiring an across-the-board rally. Softer-than-expected inflation data out of China also helped sentiment. The South Korean market was closed for the Thanksgiving Day public holiday.

With the European Central Bank decision in the rearview now, investors in Europe were sending the major averages from the region sharply higher.