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Stocks are set to rise for a second day with Dow futures up 100 points

Stocks are set to rise for a second day with Dow futures up 100 points

Stock futures edged greater early Friday after major averages rebounded from a three-day shedding streak in the prior session, led by skills shares.

Futures on the Dow Jones Industrial Average indicated an opening gain of about 101 points. S&P 500 futures rose 0.3% and Nasdaq-100 futures added 0.2%.

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Bitcoin, which shook markets earlier in the week with a 30% collapse, was stable for a second day around the $40,000 range. Major skills shares have been set to proceed their rebound. Tesla was greater by 2% in premarket trading. Netflix was also greater.

Gains have been broad across sectors early Friday. Cruise traces gained after Carnival said some brands would resume cruises in July. Carnival added 1% in premarket trading.

Ford, which said Thursday it has 20,000 reservations for its unusual electric F-150 pickup, gained 1.7% in early trading. Dwelling Depot shares rose 0.7% after the retailer announced a unusual $20 billion share buyback program.

In another signal of market self assurance, unusual IPO Oatly, which jumped 18% on Thursday in its Nasdaq debut, was up 8% in premarket trading on Friday.

The scramble in futures followed a comeback day on Wall Road with the Dow gaining 186 points and the S&P 500 and Nasdaq composite ending the day 1.06% and 1.77% greater, respectively. Microsoft, Facebook and Alphabet all rose more than 1% while Netflix and Apple rallied more than 2% each.

Shares of Tesla and diversified speculative parts of the market bounced back as bitcoin prices recovered after a rollercoaster session Wednesday. A unusual pandemic-low in jobless claims also helped sentiment on Thursday.

Thursday’s “jobless claims tell furthers our behold the disappointing April jobs report was doubtless a blip rather than a signal of deceleration, and we anticipate meaningful labor market tell in coming months,” said Scott Ruesterholz, a portfolio manager at Insight Funding.

Despite Thursday’s rebound, the Dow is down 0.9% in the past week, on track to see its fourth negative week out of the past 5 weeks. The S&P 500 is 0.4% lower on the week, on pace for its second negative week in a row. The Nasdaq Composite is up 0.8%, positioned to break a 4-week shedding streak.

—CNBC’s Yun Li contributed to this report.

Stocks are set to rise for a second day with Dow futures up 100 points