Wall Street futures pointed moderately higher pre-bell Friday as bond yields and crude prices largely stabilized, easing concerns that interest rates and energy bills will track even higher.

In the futures, the S&P 500 rose 0.3%, the Nasdaq inclined 0.6% and the Dow Jones was up 0.4%.

Traders await the S&P Global flash US purchasing managers index (PMI) report for August at 9:45 am ET, for insights into how the private sector is responding to higher energy bills and debt charges.

The VanEck Semiconductor fund (SMH) rose 1.1% in morning hours, indicating a "risk-on" mood for tech shares.

West Texas Intermediate crude oil futures traded up 0.2% at $87.02.

Asian exchanges traded mixed on the high side overnight, while European bourses edged north midday on the continent.

Ross Stores (ROST) traded up 8.1% pre-bell after the budget-clothing chain reported fiscal Q2 results above expectations, and boosted guidance, late Thursday.

On the economic calendar, in addition to the PMI report, is the weekly Baker Hughes oil-and-gas rig count at 1 pm.

In pre-market action, Bitcoin traded at $77,902, and 10-year US Treasuries offered 4.70%. Spot gold commanded $4,588 an ounce.