U.S. stock-index futures pointed to modest gains at the open on Friday, with the Dow average inching closer to the psychologically important 20,000 level, leaving it on track for its longest weekly winning streak in more than a year.
Futures for the Dow Jones Industrial Average rose 42 points, or 0.2%, to 19,905, indicating a second straight day of gains. The blue chip benchmark on Thursday traded less than 50 points from the 20,000 handle at one point as bank stocks continued to move higher.
The Dow was up 0.5% for the week, on track for a sixth weekly win, as of Thursday's close. That would mark the longest weekly run of gains since November last year.
For the other benchmarks on Friday, futures for the S&P 500 index rose 4.4 point to 2,268, a rise of 0.2%, while those for the Nasdaq-100 index also rose 0.2%, adding 9 points to 4,943.5.
Both the S&P and the Nasdaq Composite closed higher on Thursday, rebounding from Wednesday's losses and on track for small gains for the week. The declines Wednesday came after the Federal Reserve lifted interest rates and signaled three hikes could come in 2017.
"Seems the midweek dip on a more hawkish Federal Reserve was just a chance for a breather," said Lee Wild, head of equity strategy at stockbroker Interactive Investor, in a note.
"The U.S. economy is fit enough to absorb a number of rate hikes next year and, like Brexit, Trump and Italy before it, Fed tightening is no reason to sell. Traders are not minded to bet against president-elect Donald Trump just yet either," he said.
U.S. equities have surged since the presidential election in November. The gains have been attributed to expectations that Donald Trump's policy proposals, such as increased infrastructure spending, tax cuts and deregulation, will spur economic growth.