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Wall Street set to gain modestly

New York - US stock index futures pointed to slight gains at the open Friday in a modest rebound from recent losses, though major indexes remained on track for their biggest weekly decline since April.

The US bourse is set to open higher as European leaders get ready to meet. Credit: REUTERS

Still, steady gains this year have left equities near record levels, and investors have used any uncertainty as an opportunity to take profits.

While few companies have reported so far, next week will bring the results of dozens of highly watched names, including several Dow components.

Late Thursday, Chevron Corp forecast rising second-quarter earnings as asset sales in Chad and elsewhere offset spiking currency charges.

Dow Jones industrial average e-mini futures rose 11 points and Nasdaq 100 e-mini futures rose 9 points.

It is the biggest weekly decline for all three indexes since the week ended April 11.

The CBOE Volatility index is up 22 percent this week, its biggest weekly spike since March.

Portugal's Banco Espirito Santo steadied market jitters by reassuring investors over financial troubles at its biggest shareholder, though investors were in the dark about any potential losses. - Reuters

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