Futures rebounded Friday, following positive retail sales news and as a ban on short selling in several European markets for the next 15 days appeared to soothe fears over the euro zone debt crisis.
Stocks surged sharply across the boardThursday amid news that French President Nicolas Sarkozy and German Chancellor Angela Merkel will meet next Tuesdayto discuss issues in the the euro zone and as investors snapped up beaten-down sectors.
European shares extended gains, led by the banking sector, following the short-selling ban on financial shares by France, Italy, Spain and Belgium.
In corporate news Bank of America chief executive Brian Moynihan met privately this week with Treasury Secretary Timothy Geithner and Federal Reserve governor Daniel Tarullo to calm investors and employees about the bank's share price fall, according to a Wall Street Journal report.
Among earnings, JCPenney edged higher even after the retailer posted a flat quarterly profitas sales were hampered by its by its exit from the catalog business.