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Tech Revival Buoys Wall Street Pre-Bell; Asia Rallies, Europe Up

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Wall Street futures pointed solidly higher pre-bell Friday, after tech-and-delivery conglomerate Amazon.com (AMZN) late Thursday reported earnings that crushed the market consensus, and said its web-services division had more business than it can handle.

Amazon.com gained 11.5% pre-bell, while in the futures the S&P 500 rose 0.5%, the Nasdaq inclined 1.2% and the Dow Jones was up 0.6%.

The VanEck Semiconductor fund, after a 6.9% incline on Thursday, traded up another 3% pre-bell.

Asian exchanges traded sharply higher overnight, including a record 17.9% gain on Seoul's KOSPI index, and an 8% uplift on Taiwan's TWSE index, on the tech-sector rebound.

European bourses tracked moderately north midday on the continent.

On the economic calendar is the Q2 employment cost index at 8:30 am ET, followed by the Chicago PMI for July at 9:45 am.

The University of Michigan consumer sentiment report for July logs at 10 am, followed by the weekly Baker Hughes domestic oil-and-gas rig count at 1 pm.

In pre-market action, bitcoin traded at $63,792, West Texas Intermediate crude oil traded up 0.9% at $84.36, and 10-year US Treasuries offered 4.68%. Spot gold commanded $4,057 an ounce.

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