U.S. stock futures on Friday pointed to a jump at the open, as oil's rebound lifted sentiment and investors wrapped their heads around the European Central Bank's latest stimulus efforts.
Oil futures rose about 2%, rebounding from losses in the prior session. Crude prices might have bottomed out, the International Energy Agency said Friday. Goldman Sachs analysts have also turned more upbeat on oil, saying "price lows may have been set." Oil-related stocks such as Chesapeake Energy Corp. (CHK) and ConocoPhillips (COP) were among the S&P 500's biggest premarket gainers.
"Markets have been on a huge roller-coaster in the wake of the ECB monetary policy announcement," said Richard Perry, a Hantec Markets analyst, in a note. "The positive reaction for risk assets this morning [is] a turnaround on the turnaround and would suggest that the dust is still yet to settle."
ECB President Mario Draghi delivered a bigger-than-expected stimulus plan Thursday, but also indicated that policy makers aren't likely to further cut interest rates -- sending a mixed signal that pushed markets worldwide one way, then the other.