US stock futures higher as week ends; US Steel slumps

Crude hands back recent gains 

Oil prices retreated Friday, handing back some of the prior session’s gains amid hopes of policy support to revive economic growth in China, the world’s largest crude importer.

By 05:00 ET, the US crude futures (WTI) slipped 0.5% to $72.78 a barrel, while the Brent contract fell 0.5% to $75.57 per barrel.

Both contracts closed at their highest in more than two months on Thursday, and are on track for their second weekly increase after investors returned from holidays, improving trade liquidity.

China's President Xi Jinping pledged more proactive policies to boost growth earlier this week, while the Financial Times reported on Friday that the Chinese central bank is planning to cut interest rates from the current 1.5% level “at an appropriate time” this year.

(Ambar Warrick contributed to this article.)

Source: Investing.com