U.S. equity futures edged higher on Friday, maintaining gains from the week as anticipated Federal Reserve rate cuts and continued investment in artificial intelligence bolstered earnings prospects. Futures linked to the three major indices were slightly up. The December jobs report is predicted to reinforce the perspective of a stable job market with low rates of hiring and firing, aligning with expectations for the Fed to implement two additional rate cuts this year to encourage job growth.
Technology stocks showcased a mixed performance following a volatile week, with Alphabet and Nvidia anticipated to open on a positive note. Meanwhile, Meta's futures declined after the company secured nuclear power agreements for its data centers, marking the latest move in a series of AI-related investments that have attracted some scrutiny within the sector.
Additionally, shares of Chevron and key refiners like Valero rose, as markets evaluated the repercussions of uncertain Venezuelan oil imports. President Trump's indications of increased trade with Venezuela contrasted with the companies' cautious stance on operating in the region.