1. U.S. stock futures rose Friday and European shares gained following a bounce back for oil prices.
Asian shares ended Friday’s session mixed. Japanese shares rose 0.5%. The yen weakened against the dollar.
Oil prices in the U.S. rose 3.7% early Friday to $38.64 a barrel.
2. The economic calendar in the U.S. Friday includes Wholesale Inventories for February at 10 a.m. EDT.
3. U.S. stocks on Thursday declined with Wall Street giving back Wednesday’s rally and then some as investors grew nervous about the impending first-quarter earnings season.
The S&P 500 fell 1.2%, the Dow Jones Industrial Average fell 1.0%, and the Nasdaq slid 1.5%.
4. The U.S. isn’t in a bubble economy, despite dire warnings from presidential candidates and some pundits, said Federal Reserve Chair Janet Yellen and three former central bank chairmen at an event Thursday night.
5. Drugmaker Valeant Pharmaceuticals won’t put Bausch & Lomb on the block, investor Bill Ackman said.
6. Verizon plans to make a first-round bid for Yahoo!’s Web business next week, and is willing to acquire the company’s Yahoo Japan stake to help sweeten the offer, Bloomberg reported, citing people familiar with the matter.
7. Activist investor Starboard Value holds a 6.8% stake in drugmaker Depomed and said it intends to nominate a slate of directors to the company’s board, Reuters reported.
8. Gap said revenue at stores open at least a year fell 6% in March as all three key brands — Banana Republic, Old Navy and its namesake label – suffered sales drops. Analysts were expecting same-store sales to fall 4.3%.
The sales drop marked the 12th consecutive monthly decline for same-store sales.
Gap also warned that it was entering April with higher levels of inventory, which it said could hurt profit margins.
9. Adobe Systems issued an emergency update on Thursday to its Flash software for Internet browsers after researchers discovered a security flaw that was being exploited to deliver ransomware to Windows PCs, Reuters reported.
10. Corning reached a deal to buy Alliance Fiber Optic Products for $18.50 a share, or about $305 million.
Alliance Fiber shares rose 24% in after-hours trading on Thursday to $19.15.