After falling sharply in recent sessions, stocks are likely to regain some ground in early trading on Friday. The major index futures are currently pointing to a moderately higher open for the markets, with the Dow futures up by 40 points.
The upward momentum for the markets comes as some traders are likely looking to pick up stocks at reduced levels following the recent weakness, which has dragged the major averages down to their lowest levels in over three months.
Nonetheless, trading activity may be somewhat subdued amid a lack of major U.S. economic data on the day. Lingering concerns about the financial situation in Europe may also limit any rebound by the markets.
Traders are likely to keep a close on shares of Facebook (FB), with the social networking giant set to begin trading on the Nasdaq.
Facebook announced Thursday that it priced its initial public offering at $38 per share, at the top end of its estimated price range of $34 to $38.
The company raised $16 billion with the offering, marking the largest ever IPO for a technology company. The offer price values the company at $104 billion.
Gap (GPS) could also be in focus after the apparel retailer reported better than expected first quarter results. The company also raised its full-year earnings guidance.
For comments and feedback: editorial@rttnews.com