U.S. Stocks May See Further Downside As Crude Oil Extends Surge

Following the sell-off seen in the previous session, stocks are likely to see further downside in early trading on Friday. The major index futures are currently pointing to a lower open for the markets, with the S&P 500 futures down by 0.5 percent.

A continued surge by the price of crude oil is likely to weigh on Wall Street, as international benchmark Brent crude futures have jumped back above $110 a barrel after soaring by more than 5 percent during Thursday’s trading.