US Stock Futures Rise

Stock futures contracts tied to the three major indices were up roughly 0.5% on Friday, putting Wall Street on track to extend gains as investors await a slew of economic data later today, including producer-price figures and the University of Michigan consumer report.

Some signs that the labor market is starting to cool, with continuing jobless claims climbing to the highest since early February, brought some respite to markets rattled by uncertainty about the direction of the Federal Reserve's interest rate rises.

The sentiment was also boosted by expectations of a recovery in China's economy, with the world's largest economy relaxing many of its stringent COVID-19 controls and signaling more support for the property sector.

On the corporate side, DocuSign jumped over 10% on better-than-expected quarterly results, while Lululemon tumbled 7% after issuing a weak fourth-quarter guidance.