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US stock futures rise as Wall Street tries to rebound from tech sell-off

U.S. stock index futures pointed to a higher open on Friday after a sharp sell-off led by technology stocks.

Dow futures rose 40 points, while S&P and Nasdaq futures gained 4.5 points and 7 points, respectively.

The major indexes fell around 1 percent Thursday as tech stocks tumbled ahead of quarter-end. With Friday marking the last trading day for the quarter, this is usually seen as a time when investors reposition their portfolios or take profits.

Pedestrians walk past the New York Stock Exchange in New York.
Michael Nagle | Bloomberg | Getty Images
Pedestrians walk past the New York Stock Exchange in New York.

Tech has been the best-performing sector for most of 2017, rising more than 15 percent in the period. But over the past month it has dropped more than 2 percent.

Investors also looked to more data releases, with personal income rising 0.4 percent in May, more than the expected gains of 0.3 percent. Chicago PMI data are due at 9:45 a.m. ET.

Consumer sentiment is slated to come out at 10a.m. ET. No major earnings or bond auctions are scheduled.

Oil futures, meanwhile, were posting strong gains in morning trade, as investor sentiment continued to be boosted by news of a decline in U.S. output. At 8:33 a.m. ET on Friday, U.S. crude was trading around $45.20, while Brent hovered around $47.56.

The bond market will also be in focus, as yields continue to edge higher.

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In the political sphere, U.S. President Donald Trump will continue with his meeting with South Korean President Moon Jae-in at the White House, with discussion expected to focus on economic and global issues.

In Europe, bourses were mostly higher, while Asia-Pacific markets finished trade on a relatively negative note.

—CNBC's Fred Imbert contributed to this report.

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