Futures Pointing To Higher Open On Wall Street

(RTTNews) - After turning lower over the course of the previous session, stocks are likely to move back to the upside in early trading on Friday. The major index futures are currently pointing to a higher open for the markets, with the Dow futures up by 35 points.

Stocks may benefit from a report from Russian news agency RIA Novosti indicating that Russia wants to de-escalate the crisis in eastern Ukraine.

RIA Novosti cited Nikolai Patrushev, secretary of the Russian Security Council, as saying Russia is ready to mediate talks between the Ukrainian government and pro-Russian separatists.

The news out of Russia has helped to ease concerns generated by news that President Barack Obama authorized U.S. airstrikes against Islamic militants in northern Iraq in an effort to protect American interests and personnel in the region.

In a brief nationally televised speech Thursday evening, Obama said that U.S. action - taken at the request of the Iraqi government - will also include what he called humanitarian relief in the face of genocide.

On the economic front, the Labor Department recently released a report showing that labor productivity increased by more than anticipated in the second quarter, contributing to a smaller than expected increase in labor costs.