US stock futures rose on Friday as investors tried to find their footing following a steep sell-off driven by rising Treasury yields.

Dow Jones Industrial Average(DJI.US) futures were up 265 points, or 0.5%. S&P 500 index(SPX.US) futures climbed 0.5%, and NASDAQ-100(NDX.US) futures advanced 0.7%.

Wall Street is coming off a losing session, as Treasury yields resumed their march higher after the government’s efforts to stymie a selloff in the Treasury market. Bonds, particularly on the long end of the curve, have been under pressure as investors fear rising inflation due to higher oil prices.

During Thursday’s session, the S&P 500 index(SPX.US) and NASDAQ(IXIC.US) dropped 0.9% and 1%, respectively. That pullback left the S&P 500 down 1.9% for the week, and the Nasdaq off by 2.5% — putting them on pace to snap a three-week winning streak. The Dow Jones Industrial Average(DJI.US) has fallen 1.8% week to date, on track for back-to-back weekly losses.

“Unlike QE via the [Federal Reserve], the Treasury cannot create money to fund asset purchases,” wrote Ulrike Hoffmann-Burchardi, chief investment officer of the Americas at UBS. “Any buybacks must be financed elsewhere, most likely through increased bill issuance or adjustments to other parts of its funding program.”

“In effect, the operation reshapes the maturity profile of debt held by investors rather than reducing the amount of debt markets must absorb. It neither removes the government’s financing needs nor resolves concerns about Treasury supply,” she wrote.

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As of 03:41 PM Riyadh Time, top pre-market movements are as follows:

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