Stock futures were pointing higher on Friday, with the S&P 500 eyeing fresh highs.
Tech stocks are expected to lend a hand, with enthusiasm for the sector set to continue.
“Reflation trade is not happening, long technology is the most crowded trade of the moment,” Swissquote Bank said.
“The Nasdaq-100 net long positions are at the highest levels in nearly two years. The stretched long positioning makes Nasdaq stocks vulnerable to a selloff, but the softening Fed expectations and robust AI-demand should keep the technology space well-funded,” Swissquote Bank said.
A number of Federal Reserve officials will make appearances on Friday, including Austan Goolsbee at 8:30 a.m., Michael Barr at 1 p.m. and Mary Daly at 4:15 p.m.