(By Balachander) U.S. stock index futures pointed to a higher open on the Wall Street amid increased hopes that central banks will act to spur economic growth, as investors mull second round of elections in Greece on Sunday and the Fed's policy meeting next week.
Mini Dow Industrial Average futures added 33.00 points to 12,639.00. The Nasdaq Futures gained 6.50 points to 2,541.50. Standard and Poor's 500 futures inched up 2.40 points to 1,328.60.
On the economic front, the Empire State Index - which rates the relative level of general business conditions New York state - tumbled fifteen points to 2.3 in June, versus expectations of a drop to 13.89 in May. Industrial production for May is due for release at 9:15 a.m. ET and the University of Michigan consumer-sentiment index for June is set for release at 9:55 a.m. ET.
On Thursday, U.S. stocks ended sharply higher after readings on inflation and jobless claims led to optimism that Federal Reserve will act to stimulate the economy.
Hot Stocks Of The Day: IIVI, MSFT, DYAX, MVIS, AIR, SAIC
In corporate news, II-VI Inc. (NASDAQ:IIVI) may be under watchlist after the maker of derivative precision components slashed its forecast for the fourth quarter, citing fall in demand for tellurium, among other reasons. In addition, the company guided 2013 below Wall Street projections.
Microsoft Corp. (NASDAQ:MSFT) may be in focus after Wall Street Journal reported that the company agreed to buy business software provider Yammer Inc. for $1.2 billion.
Dyax Corp. (NASDAQ:DYAX) slumped 11.21 percent in premarket after the biopharmaceutical company said it is discontinuing its mid-stage clinical trial of Kalbitor because the angioedema drug was not working better than placebo.
MicroVision Inc. (NASDAQ: MVIS) retreated 7.69 percent in premarket after the developer of high-resolution miniature laser display technology announced offering of common stock and warrants.
AAR Corp. (NYSE:AIR) edged lower in premarket after the supplier of avionics products guided fourth quarter and fiscal 2013 earnings that trailed market expectations.
SAIC Inc. (NYSE:SAI) shares were upgraded to "Overweight" from "Neutral" by JPMorgan Chase & Co. The stock rose 1.20 percent in premarket.
European markets rose, with Germany's DAX gaining 1.05 percent to trade at 6,202.99. France's CAC40 rallied 1.46 percent to trade at 3,076.67. U.K.'s FTSE 100 added 0.27 percent to trade at 5,482.07.
Asian markets ended higher tracking global cues. The Shanghai Composite Index rose 0.54 percent to end at 2,308.25. Hong Kong's Hang Seng jumped 2.26 percent to close at 19,233.94. Japan's Nikkei 225 closed flat at 8,569.32. India's BSE Sensex finished at 16,949.83, up 1.63 percent.
Ahead of the opening bell, crude oil futures rose 0.15 percent to $84.04 per barrel. Gold futures added 0.30 percent to $1,624.5 per ounce.
In the currency market, the euro traded 0.20 percent lower against the U.S. dollar at 1.2608, and the British pound dipped 0.03 percent higher against the greenback to 1.5557. The dollar declined 0.91 percent against the Japanese yen to 78.6300.