A strong batch of IPOs is on deck for Friday, ready to test what may be choppy waters after this week's roller-coaster ride for techs. Asian and European markets moved up, and the Dow is set to open slightly higher.
After a week of wild ups and downs, techs may be soothed Friday by a batch of promising IPOs; Online hotel room reseller, Hotel Reservations (Nasdaq: ROOM), priced at $16 a share, Chipmaker Intersil Holdings (Nasdaq: ISIL) priced at $25 a share, and online corporate training firm DigitalThink (Nasdaq: DTHK) priced shares at $14 each.
Niku (Nasdaq: NIKU), an online provider of human resources services, said the range had been boosted to $20-$22 per share from $10-$12, and was expected to price for debut Friday.
On the economic front, revised economic growth is expected to come in at 6.5 percent for the fourth quarter, up from the government's initial 5.8 percent estimate. A report on January's existing home sales, which are expected to come in at 5 million, from 5.06 million in the prior report is also due out Friday morning.
Expect the following technology stocks to be among Friday's most actively traded issues: Internet Capital Group, Intuit, Puma and VA Linux.
A spate of afternoon buying lifted the Nasdaq out of its doldrums Thursday. After spending most of the day below or barely above the previous day's close, the tech-heavy Nasdaq Composite Index ended Thursday up 67.26 to 4,617.59, thanks to a surge in the last 90 minutes of the trading session.
At the Bell
The Dow Jones industrial average may open about 16 points higher. The Standard & Poor's 500 index for June futures contracts was up 2.2 points to 1357 at 7:34 a.m. EST in 24-hour electronic trading.
The Inter@ctive Week @Net Index was up 12 to 632.54.
Trading in Asia on an upswing. The Nikkei 225 rose 1.26 percent to 19,817, Singapore's Strait Times index gained 0.79 percent to 2,140 and Hong Kong's Hang Seng was up 0.83 percent to 17,200.
European markets were also moving up. London's FTSE 100 rose 1.17 percent to 6,158. The CAC 40 in Paris gained 1.76 percent to 6,185 and the Xetra DAX in Frankfurt was up 0.90 percent to 7,709 at 7:11 a.m. EST.
Reuters contributed to this report.