10.04.202613:01:51UTC+00US Futures Gain for 8th Session

US equity futures traded higher on Friday, poised to advance for an eighth straight session as investors took comfort in signs of easing geopolitical tensions. Contracts tied to the S&P 500, Dow Jones Industrial Average, and Nasdaq 100 were up as much as 0.3%.

President Trump said he was optimistic about potential progress with Iran ahead of official meetings this weekend. At the same time, improving indications of tanker traffic through the Strait of Hormuz helped temper recent concerns over energy-driven inflation shocks that have weighed on equities since early March.

Higher energy prices pushed the US inflation rate to its highest level in nearly two years in March. However, oil and gas costs are expected to moderate if crude and product flows from the Persian Gulf continue to normalize.

Speculative technology shares were mostly higher in pre-market trading, while financial stocks also advanced ahead of next week’s earnings reports.