(Reuters) – Wall Street futures rose on Friday, led by gains in those following the Nasdaq 100 as tech stocks broadly advanced, while Netflix soared after positive results.

Shares of Netflix rose 5.8% in premarket trading after the streaming giant beat Wall Street estimates for its subscriber base and said it expected continued growth through the end of the year.

All the so-called Magnificent Seven stocks, which have been the main drivers of Wall Street’s gains this year, were higher in premarket trading, with Apple gaining 1.1% after data showed a jump in sales of new iPhones showed in China.

Chip heavyweight Nvidia rose 1.2%, building on gains from the previous session after strong results from contract chipmaker TSMC lifted semiconductor stocks.

Dow E-minis rose 30 points, or 0.07%, US S&P 500 E-minis rose 13 points, or 0.22%, Nasdaq 100 E-minis rose 93 points, or 0.46%.

Meanwhile, U.S. listings of Chinese companies rose after the central bank launched financing programs aimed at boosting the stock market. Alibaba gained 3.7%, JD.com rose 5.4% and PDD Holdings rose 5.6%.

Good earnings results from financial companies and largely positive economic figures have lifted the Dow Jones and the S&P 500 to new record highs this week. The Dow Jones closed at a record high on Thursday, although there are indications that investors are exploring cheaper corners of the market.

All three major indexes were on track for their sixth straight week of gains, although the Russell 2000 is expected to outperform with a 2% gain. Futures tracking the small-cap index rose 0.4%.

At the same time, government bond yields rose slightly again, with ten-year government bond yields returning above 4.1%, which could put further pressure on equities.

“We expect further broadening of equity market performance as interest rate cuts are underway, but larger companies are both fully valued and less sensitive to interest rate changes, leading us to continue to favor higher quality small and medium-sized companies “, said Neuberger Berman. said portfolio managers.

Rising valuations amid high expectations for corporate earnings (the S&P 500 trades at nearly 22 times forward earnings) could also leave stocks vulnerable to a pullback.

The Procter & Gamble Company, American Express and SLB are expected to report results before the bell.

Home construction is scheduled to start in September, with Fed officials Christopher Waller, Neel Kashkari and Raphael Bostic scheduled to speak during the day.

Expectations that the U.S. Federal Reserve will cut rates by 25 basis points at its November meeting have remained fairly steady all week and currently stand at 92.1%, according to CME’s FedWatch.

(Reporting by Lisa Mattackal in Bengaluru; Editing by Pooja Desai)