Stock Futures Point to a Wall Street Rebound

Tickers in this article: AAPL CLWR FB ORCL ^DJI ^GSPC ^IXIC

NEW YORK ( TheStreet) -- Stock futures were rising Friday, pointing to a rebound after two sessions of deep, Federal Reserve -related selloffs that culminated in the largest drop in equity prices since November 2011 and led to an environment for bargain-hunting.

Facebook shares were gaining 2.8% to $24.57 in premarket trading after it and Instagram announced on Thursday that the photo-sharing social network is adding a video component to its network, called Video on Instagram.

The app, available for both Apple's iOS and Google's Android, allows users to take 15-second videos of what they are recording. The app also allows users to re-record the video if the video is marred by an accidental clip.

Futures for the S&P 500 were rising 12.5 points, or 15.11 points above fair value, to 1,596.5. Futures for the Dow Jones Industrial Average were gaining 93 points, or 113.68 points above fair value, to 14,794. Futures for the Nasdaq were adding 18.75 points, or 15.42 points above fair value, to 2,898.75.

The economic calendar is empty Friday.

Friday is a quadruple-witching day of futures and options contracts expirations, which could bring greater than normal volume and volatility.

U.S. stock markets plunged the most in 19 months Thursday on fears the Fed plans to reduce the bond-buying that has fueled equity markets for more than a year and kept mortgage rates at historic lows.

"Markets don't like change and you are seeing that evidenced in the selloff of the last few days," Greg Sarian, the Philadelphia-based managing director and partner of the Sarian Group at HighTower, wrote in an email. "What investors are not paying attention to is the very reason the Fed is considering a change in policy is that the economy is slowly but surely getting better."

Apple won a patent infringement lawsuit against Samsung in a Japanese court, one of many legal battles around the world between the technology companies. Shares were rising 0.54% to $419.09.

The Tokyo District Court issued a partial verdict Friday in favor of Apple in the case that centered on "bounce-back" technology for scrolling on devices. Damages weren't announced.

Oracle reported Thursday fiscal fourth-quarter earnings that met Wall Street expectations, hiked its dividend, and extended its share buyback program. But the stock prolonged its declines into premarket trading Friday, down more than 7.5% to $30.65, as investors fixated on the company's disappointing and flat revenue growth, as its cloud ambitions were met with sluggish-looking results.

Sprint raised its buyout offer for Clearwire to $5 a share, as the No. 3 telecom tries to thwart a rival bid from Dish Network .

Sprint's $5-a-share offer and the bid's acceptance from a special committee of Clearwire's board indicates that Sprint is trying to finish its merger ahead of key shareholder meetings through June. The revised offer, a 47% premium from Sprint's last $3.40-a-share bid for Clearwire, also signals the company is caving to pressure from Dish.