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Exxon Mobil ( XOM ) up as Q4 profit beats estimates

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Chevron ( CVX ) falls after missing Q4 earnings expectations

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December PCE price index data due at 8:30 a.m. ET

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Futures up: Dow 0.33%, S&P 500 0.46%, Nasdaq 0.8%

(Updates with results from Exxon Mobil ( XOM ), Chevron ( CVX ))

By Shashwat Chauhan and Sukriti Gupta

Jan 31 (Reuters) - U.S. stock index futures rose on

Friday after Apple ( AAPL ) forecast strong sales growth, while investors

awaited key inflation data that could influence the Federal

Reserve's policy decisions.

Apple ( AAPL ) gained 3.4% in premarket trading on upbeat

executive comments in its earnings on Thursday, in a sign the

company would recoup a dip in iPhone sales as it rolls out AI

features.

"Investors appeared reassured by guidance that revenue

growth is expected in the low- to mid-single digits in the

coming quarter," Deutsche Bank analysts said in a note.

The December personal consumption expenditures price index

is due to be released at 8:30 a.m. ET, with headline inflation

expected to increase 0.3% month-on-month and 2.6% annually.

Excluding the volatile food and energy components, the PCE

price index is expected to rise 0.2%. Annually, it is expected

to stay put at 2.8%, according to economists polled by Reuters.

The central bank held interest rates steady in its latest

rate decision earlier this week, and Fed Chair Jerome Powell

said there would be no rush to cut them again until inflation

and jobs data made it appropriate to do so.

Intel ( INTC ) advanced 1.3% after the chipmaker posted

December-quarter results that beat analysts' low expectations,

while its forecast for current-quarter revenue missed estimates.

Chevron ( CVX ) fell 2.2% after reporting fourth-quarter

earnings below estimates, while Exxon Mobil ( XOM ) rose 0.8%

after it beat fourth-quarter profit estimates.

At 06:41 a.m. ET, Dow E-minis were up 150 points,

or 0.33%, S&P 500 E-minis were up 28 points, or 0.46%,

and Nasdaq 100 E-minis were up 173.25 points, or 0.8%.

The S&P 500 and the Nasdaq were set for

weekly losses as tech shares suffered a rout after Chinese

startup DeepSeek unveiled a breakthrough in low-cost

artificial-intelligence models, triggering a bloodbath in

AI-linked stocks.

Microsoft ( MSFT ) plunged more than 6% on Thursday

following a disappointing growth forecast in its cloud computing

business, exacerbating broader losses.

Despite this week's volatility, all three major indexes were

on track for monthly gains, with the S&P 500 less than 1% short

of its all-time high hit last week.

January has been a mixed month for equities, with the S&P

500's returns flat on average since 2000, according to data

compiled by LSEG.

Meanwhile, global markets stayed vigilant after U.S.

President Donald Trump said on Thursday the U.S. would impose a

25% tariff on imports from Mexico and Canada, repeating his

warning ahead of his previously announced Saturday deadline.

Among other early movers, Vertex Pharmaceuticals ( VRTX )

rose 7.2% after the Food and Drug Administration approved the

drugmaker's non-opioid painkiller.

Deckers Outdoor ( DECK ) dropped 14.7% after the UGG

bootmaker's annual sales forecast raise missed lofty

expectations after a strong holiday quarter.

Walgreens Boots Alliance ( WBA ) lost 9.8% after the

pharmacy chain operator suspended its quarterly cash dividend

amid restructuring efforts.