Futures tied to the Dow Jones Industrial Average rebounded early Friday as traders tried to move past credit concerns that sparked a big sell-off in regional banks Thursday. Futures tied to the Dow were higher by 70 points, or 0.1%, after falling more than 300 points overnight. S&P 500 futures were flat and Nasdaq 100 futures were down by 0.2%. Stocks that led Thursday’s bank sell off were rallying back in premarket trading, boosting futures, as Wall Street defended the shares and traders bet any bad credit bets were one-offs and not part of a bigger crisis. Zions and Western Alliance disclosed bad loans over the last 48 hours, which sparked a big selloff in the stocks that eventually dragged down the whole market Thursday. Zion lost 13%, while Western Alliance tanked by 11% Thursday. But Zions Bancorp climbed more than 4% in early trading Friday after receiving an upgrade from Baird, which said the drop in market value for the regional bank was out of proportion considering the size of loan losses it was potentially facing. Investment bank Jefferies, caught in the storm for its exposure to bankrupt auto parts retailer First Brands, was last up nearly 5% after Oppenheimer raised its rating to outperform. Jefferies was down 11% Thursday. Better-than-expected earnings Friday from Fifth Third Bancorp also assuaged worries, sending the stock higher by 2% in early trading. The bank’s profit jumped last quarter even after posting a jump in credit losses tied to exposure to bankrupt subprime auto lender Tricolor. The big major banks dragged down Thursday also bounced back, with J.P. Morgan and Bank of America both in the green early Friday. The Dow lost 300 points and the S&P 500 shed 0.6 on Thursday, fueled by the significant decline in bank stocks late in the session. The SPDR S&P Regional Banking ETF (KRE), which has been down for four straight weeks, lost more than 6% during the session. Uneasiness in the banking sector has grown after the recent bankruptcies of those two auto industry-related companies: Tricolor and First Brands. The regional bank ETF was up by 2% early Friday. “We don’t think there are systemic credit problems for banks – most of what we’re seeing so far is a function of a few specific situations (First Brands and TriColor) while credit quality broadly if anything is tracking better than anticipated,” wrote Adam Crisafulli of Vital Knowledge in a note. Thursday saw a jump in the Cboe Volatility Index, commonly referred to as Wall Street’s fear gauge, alongside moves lower in Treasury yields and the U.S. dollar as investors went into safe havens and looked for hedges in the options market. The ‘Vix’ was moving steadily lower in early trading Friday as futures bounced, signaling easing fears. Liz Ann Sonders, chief investment strategist at Charles Schwab, said on CNBC’s “Closing Bell” Thursday that the banking concerns come as there’s is a lot of “speculative froth” that has developed in the public market, with investors chasing stocks with riskier profiles like quantum computing, drones and unprofitable tech stocks. “When you have that speculative froth and then you have sort of a bigger picture potential issue, those two can sometimes collide and cause an increase in volatility,” she said, noting that most of the so-called froth is not in the megacap names anymore, but rather in smaller pockets of the market such as the Russell 2000 index, which hit a fresh high this week. Stocks remain on track for weekly gains despite Thursday’s decline. The S&P 500 is up nearly 1.2% after a strong start to the third-quarter earnings. The Dow has added about 1% week to date, while the Nasdaq has gained 1.6%. U.S. Treasury yields were lower on Friday as the government shutdown entered its 17th day and investors monitored the state of the U.S. economy. At 5:22 a.m. ET, the 10-year Treasury yield was down 1 basis point to 3.963%, while the 2-year Treasury note was lower by nearly 3 basis points to 3.399%. The 30-year bond yield was litle changed at 4.58%. South Korea’s Kospi hit a record high for the third straight day Friday, as trade talks continued with the U.S., bucking wider losses in Asia. The Kospi touched an intraday high of 3,794.87 before giving up its gains to trade around the flatline. The index closed marginally up, at 3,748.89. Meanwhile, the small-cap Kosdaq fell 0.68% to end at 859.54. Other Asia-Pacific markets traded weaker, tracking losses on Wall Street as fears over the banking sector and trade tensions intensified. Hong Kong’s Hang Seng Index fell 2.48% to 25,247.1, leading losses in Asia and mainly dragged by educational stocks. The fall also marks the largest drop in the HSI since April. The CSI 300 on the mainland declined 2.26% to end at 4,514.23, marking the steepest drop since April. Japan’s Nikkei 225 lost 1.44% and closed at 47,582.15, while the broad-based Topix fell 1.03% and ended at 3,170.44. Australia’s S&P/ASX 200 was down 0.81% to finish at 8,995.3, snapping a three-day winning streak. Oil prices edged lower on Friday, heading for a weekly loss of around 3% after the IEA forecast a growing glut and U.S. President Donald Trump and Russian President Vladimir Putin agreed to meet again to discuss Ukraine. Brent crude futures were down 44 cents, or 0.7%, at $60.62 a barrel, while U.S. West Texas Intermediate futures were 44 cents lower, down 0.8%, at $57.02. Gold surged past $4,300 an ounce on Friday, headed for its biggest weekly gain since December 2008, as geopolitical and economic uncertainty along with growing U.S. rate cut bets drove investors to the safe-haven metal. Spot gold rose 0.2% to $4,335.87 per ounce after scaling another record high of $4,378.69 earlier. U.S. gold futures for December delivery jumped 1% to $4,348.90. Gold is set for a gain of about 8.1% so far this week. Earlier in the session, gold had temporarily been on track for its biggest gain since September 2008 when the collapse of Lehman Brothers fuelled the global financial crisis.