At 11:29 a.m. ET, the Dow Jones Industrial Average rose 246.13 points, or 0.56%, to 44,116.48, the S&P 500 gained 8.99 points, or 0.15%, to 5,957.70 and the Nasdaq Composite lost 24.53 points, or 0.13%, to 18,947.89.

U.S. stock index futures dipped on Friday as investors were cautious ahead of a business activity survey and monitored geopolitical tensions between Ukraine and Russia, although Wall Street's main indexes were poised for weekly gains.

The benchmark S&P 500 and blue-chip Dow closed Thursday at one-week highs, with AI bellwether Nvidia managing modest gains after its quarterly forecast, while investors took comfort from robust economic data.