After showing a strong upward move over the course of the previous session, stocks could see some further upside in early trading on Friday. The major index futures are currently pointing to a modestly higher open, with the Dow futures up by 31 points.
The upward momentum for the markets is partly due to renewed optimism about the financial situation in Greece after lingering concerns about the outlook for the debt-plagued nation helped to drag stocks lower on Wednesday.
Reports that European central banks will complete an exchange of Greek government debt for new Greek bonds over the weekend contributed to the rally seen on Thursday.
"Markets assume European Finance Ministers on Monday will approve the bailout package for Greece and the PSI agreement will be set," said Peter Boockvar, equity strategist at Miller Tabak. "Let's hope so."
In U.S. economic news, the Labor Department recently released a report showing a modest increase in consumer prices in the month of January.
The Labor Department said its consumer price index rose by 0.2 percent in January after coming in unchanged in the previous month. Economists had expected the index to increase by 0.3 percent.
Excluding food and energy prices, the core consumer price index also rose by 0.2 percent in January after edging up by 0.1 percent in December. The increase by the core index came in line with economist estimates.
Not long after the open, the Conference Board is due to release its report on leading economic indicators in the month of January. The leading indicators index is expected to increase by 0.5 percent.
Among individual stocks, Applied Materials (AMAT) could see early strength after the semiconductor equipment maker reported better than expected first quarter results. The company's second quarter guidance was also above consensus estimates.
Food maker H.J. Heinz (HNZ) could also be in focus after reporting stronger than expected third quarter earnings and narrowing its full year earnings outlook.
Meanwhile, shares of Gilead Sciences (GILD) are likely to come under pressure in early trading after the biopharmaceutical company said a majority of patients using its hepatitis C treatment experienced a relapse within four weeks of completing the treatment.
With upbeat U.S. economic data overshadowing lingering concerns about the financial situation in Europe, stocks showed a strong move to the upside during trading on Thursday. The markets benefited from broad based buying interest.
The major averages closed firmly in positive territory, just off their highs for the session. The Dow jumped 123.13 points or 1 percent to 12,904.08, the Nasdaq surged up 44.02 points or 1.5 percent to 2,959.85 and the S&P 500 soared 14.81 points or 1.1 percent to 1,358.04.
In overseas trading, stock markets across the Asia-Pacific region moved higher on Friday, benefiting from the strength seen on Wall Street overnight. Japan's Nikkei 225 Index jumped 1.6 percent, while Hong Kong's Hang Seng Index rose by 1 percent.
The major European markets are also showing notable moves to the upside on the day. While the U.K.'s FTSE 100 Index is up by 0.5 percent, the French CAC 40 Index and the German DAX Index are both surging up by 1.4 percent.
In commodities trading, crude oil futures are climbing $0.57 to $102.88 a barrel after advancing $0.51 to $102.31 a barrel on Thursday. Gold futures are rising $7.60 to $1,736.00 an ounce. In the previous session, gold edged up $0.30 to $1,728.40 an ounce.
On the currency front, the U.S. dollar is currently trading at 79.33 yen compared to the 78.94 yen it fetched at the close of New York trading on Thursday. Against the euro, the dollar is valued at $1.3177 compared to yesterday's $1.3130.
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Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.