By Anora Mahmudova and Sara Sjolin, MarketWatch
NEW YORK (MarketWatch) -- U.S. stock futures rallied on Friday,
pointing to a positive start on Wall Street, after a roller-coaster
week that has been colored by concerns about global growth and the
spread of Ebola.
Futures for the S&P 500 index (SPZ4) jumped 24.60 points, or
1.3%, to 1,875.20, while those for the Dow Jones Industrial Average
(DJZ4) (DJZ4) gained 176 points, or 1.1%, to 16,191. Futures for
the Nasdaq-100 index (NDZ4) picked up 53.25 points, or 1.4%, to
3,794.75
The sharp gains came after a choppy session on Wall Street on
Thursday, when the benchmarks fell around 1% at the open. However,
they recovered throughout the day, helped by comments from
President of the St. Louis Federal Reserve James Bullard, who
raised the possibility of extending bond purchases. Bullard isn't a
voting member this year of the rate-setting Federal Open Market
Committee.
Earnings: Several heavyweights reported results ahead of the
opening bell. General Electric Co. (GE) shares rose 3.6% in
premarket action after third-quarter earnings topped market
expectations.
Defense contractor Honeywell International Inc. (HON) lifted its
low end of its 2014 per-share outlook, after third-quarter earnings
beat expectations, sending the shares 3.8% higher.
Morgan Stanley (MS) gained 3.6% ahead of the open after the bank
reported third-quarter earnings that topped forecasts.
Another bank, Bank of New York Mellon Corp. (BK) said
third-quarter profit climbed 11%.
Movers and shakers: Urban Outfitters Inc. (URBN) slid 14% in
premarket trade after the retailer late Thursday warned weaker
sales trends first reported in September are continuing.
Google Inc. (GOOGL) slipped 0.1% premarket after the Internet
giant late Thursday reported third-quarter below forecasts. Revenue
rose to $16.52 billion from $13.75 billion.
SanDisk Corp. (SNDK) slumped 2.6% ahead of the bell on Friday,
after the memory-chip maker on Thursday reported a drop in
profit.
Advanced Micro Devices Inc. (AMD) was off 0.4% in Friday's
premarket trade. The chip maker on Thursday reported third-quarter
adjusted earnings of 3 cents a share, below the 4 cents a share
forecast by analysts. AMD also announced it will cut 7% of its
global workforce by the end of the fourth quarter.
Fed speakers: Federal Reserve Chairwoman Janet Yellen said
Friday, in a speech on Friday said the recent sustained rise in
inequality in the U.S. is of great concern. Yellen did not attempt
to answer the "difficult questions" of how to promote equal
opportunity.
Boston Fed President Eric Rosengren told CNBC on Friday he does
not expect the U.S. economy to need another round of quantitative
easing, but added that he would not rule out that possibility.
Data: Construction started on new U.S. homes rose 6.3% in
September, bouncing up after a sizable August drop, led by growth
for volatile apartment building, according to government data
released Friday.
Also Friday, markets will get a fresh reading on consumer
sentiment, which will be released at 9:55 a.m.
Other markets: European markets rebounded after the recent
market slide, with the Stoxx Europe 600 index up for the first time
in nine sessions.
Asian stocks closed mixed, with Japan's Nikkei 225 down
1.4%.
Oil markets took a breather on Friday after crude futures
touched below $80 a barrel for the first time since June 2012 on
Thursday. Metals were mixed, while the dollar fell against most
major currencies.
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