US Stocks-Wall St futures recover as oil slides ahead of inflation test

Meanwhile, Adobe ADBE.O slipped more than 3% premarket after the midpoint of its fourth-quarter revenue forecast fell short of expectations.

Shares of ACV Auctions ACVA.N surged about 44% after online vehicle auctioneer Copart CPRT.O agreed to buy it in a nearly $1.9 billion deal.

U.S. stock index futures bounced back as oil prices cooled on Friday and investors pinned their hopes on the consumer inflation report to end a rough week on a positive note.

Futures up: Dow 0.53%, S&P 500 0.54%, Nasdaq 0.57%.

At 5:31 a.m. ET, Dow E-minis YMcv1 rose 276 points, or 0.53%; S&P 500 E-minis EScv1 were up 40.75 points, or 0.54%; and Nasdaq 100 E-minis NQcv1 gained 166.75 points, or 0.57%.

Oracle ORCL.N jumped nearly 7% premarket after topping estimates for quarterly results late Thursday, which reassured shareholders that its AI investments were generating returns. Nvidia NVDA.O rose 0.9%.

The market now faces the Consumer Price Index report, another data point that could shift rate expectations, following Thursday's slightly hotter-than-expected Producer Price Index reading that did little to reassure investors.

Fluctuating interest rate expectations have left the market backdrop fragile as stocks navigate a confluence of headwinds, including the intensifying Middle East conflict and elevated Treasury yields.

Brent crude futures LCOc1 slipped more than 3% but were still above $104 a barrel. West Texas Intermediate crude futures CLc1 slipped 2.6% but were close to the $100-a-barrel mark.