Massive rally in US stock futures ahead of Wall Street open

 US stock futures rose on Friday and pointed to weekly gains for the major indices, as corporate earnings awaited and ahead of Goldman Sachs results, which are expected to conclude a strong third-quarter earnings season for major banks.

However, the Commerce Department's report, due out at the time, is likely to show a decline in retail sales in September amid persistent shortages of cars and other goods. The data will come against the backdrop of high oil prices, labor shortages and supply chain disruptions, factors that have rattled investors and led to recent market volatility.

At 11:48 am GMT, the Dow jones index rose by 0.43%, or 148 points, to the level of 34,932.00, and the Standard & Poor's S&P500 index rose by about 0.34%, or by 15 points, to 4,444.00. At the same time, the Nasdaq Composite Index jumped 0.28%, or about 42.75 points, to 15,080.00