Easing Oil Prices, Tech Strength Lift Wall Street Pre-Bell; Asia Mixed, Europe Up

Wall Street futures pointed moderately higher pre-bell Friday as global crude prices eased and tech issues regained favor.

Traders also weighed muted results of the overnight summit between President Donald Trump and China President Xi Jinping, and largely shrugged off still rising bond yields.

In the futures, the S&P 500 rose 0.3%, the Nasdaq inclined 0.5% and the Dow Jones was up 0.2%.

West Texas Intermediate crude oil traded down 1.7% at $92.98 in morning action, while 10-year US Treasuries offered 5.18%, testing 24-year highs.

The VanEck Semiconductor fund (SMH) traded up 1.1% pre-bell.

Asian exchanges were mixed overnight in holiday-thinned trading, although Tokyo's Nikkei 225 rose 1.3% on strong AI and semiconductor shares.

European bourses tracked moderately north midday on the continent.

On the economic calendar is the durable goods orders bulletin for August at 8:30 am ET, followed by the University of Michigan consumer sentiment report for September at 10 am.

The weekly Baker Hughes domestic oil-and-gas rig count logs at 1 pm.

Federal Reserve Cleveland President Beth Hammack, New York President John Williams, and Kansas City President Jeffrey Schmid are slated to speak on Friday.

In premarket action, Bitcoin traded at $84,709, and spot gold commanded $4,306 an ounce.