Dow Jones Today: Stocks Poised to Open Higher, Major Indexes on Track for Weekly Gains; Bitcoin Jumps Above $102,000

Stock futures are higher Friday morning, putting major U.S. indexes on track to post weekly gains for the first time in three weeks.

Futures tied to the Dow Jones industrial Average were up 0.5% in recent trading, while those linked to the S&P 500 and Nasdaq added 0.7% and 1.2%, respectively. The major indexes closed lower on Thursday, one day after posting their best performance since early November, as big-name technology stocks slumped.

The large-cap tech stocks were higher across the board in premarket trading this morning. Apple (AAPL), Nvidia (NVDA), Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN), Meta Platforms (META) and Tesla (TSLA) were all gaining ground.

Crypto-related stocks were also moving higher ahead of the bell as bitcoin jumped to near $103,000, its highest level since mid-December. Shares of MicroStrategy (MSTR), a software maker that has become one of the world’s largest holders of bitcoin, was up more than 4%. Crypto exchange Coinbase Global (COIN) was up 3.5%, while bitcoin miner MARA Holdings (MARA) rose 4%.

Financial services stocks were also in focus this morning as several regional banks released quarterly results. Huntington Bancshares (HBAN) and Regionals Financial (RF) were each up about 1% after reporting earnings, while Citizens Financial (CFG) dropped nearly 2%.

The economic data calendar is light on Friday. Earlier this week, better-than-expected inflation data revived investor hopes that the Federal Reserve will be in a position to cut interest rates again. The encouraging report on consumer prices sent Treasury yields sharply lower and gave stocks a big boost.

The yield on the 10-year Treasury was down again this morning. The yield, which is correlated with interest rate expectations, was at 4.58%, down from 4.61% yesterday afternoon and trading at its lowest levels in two weeks.

Gold futures were down 0.4% at $2,740 an ounce, while crude oil futures also fell slightly.