U.S. stock market futures higher traded higher on Friday, getting a boost from a small earnings beat at Apple but with looming tariff developments threatening to upend the momentum. Dow Jones Industrial Average futures rose 113 points, or 0.3%, to 45168. S&P 500 futures gained 25 points, or 0.4%, to 6124.

Palantir Technologies (NASDAQ: PLTR) was one of the hottest artificial intelligence stocks on the market last year. Ives recently raised his 12-month target price to $90 per share, citing confidence in the company's artificial intelligence strategy. Ives thinks Palantir could be the next Oracle, a software company worth $515 billion.

The Fed's preferred inflation gauge, the personal consumption and expenditures index, rose 0.3% from November and 2.6% annually.