Source: Sharecast
As of 1220 BST, Dow Jones futures were up 0.26%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.25% and 0.33% firmer, respectively.
The Dow closed 404.41 points higher on Thursday, while the S&P 500 and Nasdaq finished just below their record highs despite some mixed economic data.
Donald Trump said a "very big" deal had been done with China, but did not provide any details, and added that there could be a separate agreement soon that would "open up" India. A White House official also said on Thursday that Washington and Beijing had reached an agreement on "how we can implement expediting rare earths shipments to the US again".
Futures had both indices opening above yesterday's levels, as the market looked set to bounce back from Donald Trump's "Liberation Day" tariff-fuelled losses.
However, traders will keep a close eye on May's personal consumption expenditures price index, set for publication at 1330 BST, with economists expecting to see the index tick 0.1% higher last month and 2.3% on an annualised basis. Core PCE, which strips out volatile food and energy prices, was expected to rise 0.1% from April and 2.6% year-on-year.
TradeNation's David Morrison said: "Despite a downward revision to first quarter GDP print, investor sentiment remains bullish, underpinned by strong corporate earnings, a better-than-anticipated weekly jobless number, easing geopolitical risks and fresh trade developments.
"With equity markets at or near record highs and no immediate volatility catalyst in sight, it appears that there's little which could trigger a reversal in positive sentiment. That would suggest that investor complacency is setting in. That said, traders remain alert for any catalyst which could spoil the party, especially with key inflation data due later today."
Elsewhere on the macro front, personal income and consumer spending data will also be released at 1330 BST, while the University of Michigan's June consumer sentiment index will follow at 1500 BST.
In the corporate space, Nike posted better-than-feared Q4 earnings and revenue overnight but Donald Trump's so-called "reciprocal" tariffs would cost it roughly $1.0bn this year, before price increases and supply chain shifts.
Reporting by Iain Gilbert at Sharecast.com