S&P 500 futures exhibited volatility early Friday following a record-setting session, with two of the three major benchmarks on track for their third consecutive weekly gain. S&P 500 futures hovered just above the flatline, while Nasdaq-100 futures increased by 0.11%. However, the Dow Jones Industrial Average futures experienced a slight decline, decreasing by 71 points or 0.13%. The S&P 500 on Thursday reached an intraday all-time high of 7,816.70. The benchmark also closed at a record high. The tech and communication services sectors emerged as significant beneficiaries in the index, each experiencing an approximate increase of 1%.

Shares in Reddit surged 12.9% in premarket trading as the company gears up to enter the broad-based benchmark on Aug. 18. Thursday’s gain positioned the S&P 500 and Nasdaq Composite for their third consecutive weekly advances. Heading into Friday’s session, the former is up 0.5%, while the latter has advanced 0.4%. The Dow, meanwhile, has experienced a decline of 0.4% week to date. With over 90% of S&P 500 companies having reported their second-quarter results, earnings growth compared to the same period last year is currently estimated at approximately 50%, as per FactSet. “The market is appropriately bullish right now,” Anastasia Amoroso told  in an interview, noting the strength in U.S. corporate earnings.

Amoroso also noted that software has “rallied and rebounded … I think the market came to the realization that maybe we did not appropriately price in those risks.” Indeed, the iShares Expanded Tech-Software Sector ETF is up around 28% over the past six months after tumbling more than 24% in the first quarter. IGV climbed more than 3% on Thursday. In Europe, the Stoxx 600 experienced a decline during morning trading and was observed just beneath the neutral point. The German DAX experienced an increase of 0.6%, whereas the French CAC 40 and the U.K.’s FTSE 100 saw declines of nearly 0.1% and 0.2%, respectively.

In Asia, Japan’s Nikkei 225 concluded with an increase of 0.59%, whereas South Korea’s Kospi experienced a rise of 2.42%. Australia’s benchmark index experienced a decline of 0.80%, while mainland China’s CSI 300 remained unchanged at the close. There are no significant earnings reports scheduled for Friday; however, investors will be examining the retail sales figures for July at 8:30 a.m. On average, economists anticipate that sales experienced a month-over-month growth of 0.1%, as reported by Dow Jones.