From Nasdaq:

U.S. stock index futures edge higher on Friday. Semiconductor and megacap stocks lead gains. Super Micro Computer surges 12.4% after lifting second-quarter profit forecast. Nasdaq is on course for weekly gains, nearing a record high. The IT sector hits record high, Philadelphia SE Semiconductor index is close to record high.

Money market participants lower expectation for 25 basis-point rate cut in March to 54%. Dow and S&P up by 0.17% and 0.38%, Nasdaq up by 0.71%. Quarterly results from State Street, Fifth Third Bancorp, Comerica, and SLB on investors’ radar. U.S. banks report plunge in Q4 profits, iRobot rolls 37.0%.

Spirit Airlines loses 1.6% after a near 62% drop in the last four sessions. Ratings agency S&P downgrades the carrier. High operating performance and higher refinancing risk cited. The views and opinions expressed herein do not necessarily reflect those of Nasdaq, Inc.



Read more: US STOCKS-Futures climb as chips, megacaps gain; corporate earnings on tap