U.S. index futures are up in pre-market trading this Friday after a drop in the three major indexes in the previous session, during which the Dow Jones posted its worst session in over a year.

At 06:46 AM, Dow Jones futures (DOWI:DJI) rose 69 points, or 0.18%. S&P 500 futures advanced 0.29%, and Nasdaq-100 futures gained 0.29%. The 10-year Treasury yield stood at 4.475%.

In the commodities market, West Texas Intermediate crude oil for July fell 0.73% to $80.77 per barrel. Brent crude oil for July fell 0.71%, near $80.79 per barrel. Iron ore traded on the Dalian Exchange fell 0.44% to $125.38 per metric ton.

On Friday’s economic agenda, April’s durable goods orders will be released at 8:30 AM by the Commerce Department. At 10:00 AM, the revised reading of the consumer sentiment index for May will be published by the University of Michigan and Thomson Reuters.

European markets are trading lower this Friday, following a global trend due to concerns about U.S. interest rates. Destatis confirmed that Germany’s GDP grew by 0.2% in the first quarter, while UK retail sales fell by 2.3% in April, exceeding the expected 0.4% decline forecasted by economists surveyed by Reuters.

Asian markets ended Friday with widespread declines. Shanghai SE fell 0.88%, Japan’s Nikkei dropped 1.17%, Hong Kong’s Hang Seng decreased 1.38%, South Korea’s Kospi lost 1.26%, and Australia’s ASX 200 fell 1.08%.

U.S. stocks had a promising start on Thursday, with an initial rise led by the technology sector following strong results from Nvidia (NASDAQ:NVDA). However, the optimism was short-lived. A surprise with the higher-than-expected May reading of the Purchasing Managers’ Index created uncertainties about the U.S. rate-cut cycle. The Dow Jones fell 1.53%, the S&P 500 retreated 0.74%, and the Nasdaq depreciated 0.39%. Concerns about maintaining high rates influenced the negative behavior of the indexes, while the chances of rate cuts by September fell to 55.4%, according to CME Group’s FedWatch Tool.

Scheduled to report quarterly results are Booz Allen Hamilton Holding Corp (NYSE:BAH), Mesa Labs (NASDAQ:MLAB), Sunlands Technology Group (NYSE:STG), Buckle Inc (NYSE:BKE), Hibbett Sports (NASDAQ:HIBB), Broadway Financial Corporation (NASDAQ:BYFC), MicroCloud Hologram (NASDAQ:HOLO), among others.

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