As of 8:00am ET, S&P futures were up 0.6%, at session highs and set to snap a five-day losing streak with Nasdaq futures also higher by 0.6%. Treasuries stabilized, with the US 10-year yield dropping as low as 4.80% before reversing gains, amid growing speculation that the recent selloff was excessive. Treasury 10-year yields slipped as much as five basis points to a one-week low before paring the move. Europe's Stoxx 600 index edged higher.

Bitcoin topped $35,000, rising to the highest level since May 2022, while the euro swung to a loss against the dollar as data showed the French and German economies struggling.  

In premarket trading, shares in cryptocurrency-linked companies gained in US premarket trading, with Marathon Digital, Riot Platforms, Hut 8 Mining and Cleanspark all surging at least 12%. Nvidia and Arm Holdings rose, set to extend gains, after Bloomberg reported that Nvidia is using Arm technology to develop processors in personal computers. Intel shares were on track to fall for a third consecutive session. NVDA up 1.6%. ARM shares rise 2.6%. Spotify was down 2.5% even as third-quarter results and fourth-quarter guidance beat the average analyst estimate. Its forecast for monthly active users was also better than expected. Citi wrote that the stock's negative reaction was surprising. Here are some other notable premarket movers:

Cadence Design Systems shares decline 3.3% after the electronic design automation software company's fourth-quarter adjusted earnings per share forecast did not meet consensus expectations.

DraftKings advances 3.5% after MoffettNathanson raises the online sports-betting company to buy from neutral, citing its expense management and revenue that continues to top expectations.