U.S. stock-index futures were sharply higher today mid optimism that proposals Greece submitted to its creditors will pave the way for a bailout deal.
Futures for the Dow Jones Industrial Average climbed 0.8 percent to 17,595, while those for the S&P 500 index put on 1 percent to 2,060.50. Futures for the Nasdaq 100 index gained 0.9 percent to 4,379.75.
Greek Prime Minister Alexis Tsipras appealed to his party's lawmakers to back a tough reforms package that won praise from France, which called the new proposals "serious and credible".
Greece has asked for $59 billion to help cover debts until 2018 and has pledged new tax hikes in return. Euro zone finance ministers will meet on Saturday to decide whether to recommend opening negotiations for a third bailout for Athens.
DATA/FED:
A report on wholesale inventories for May is due at 10 a.m.
Federal Reserve Chairwoman Janet Yellen is scheduled to give a speech on the economic outlook at The City Club of Cleveland at 12:30 p.m.
MOVERS:
Apple (NASDAQ:AAPL) climbed 1.2 percent ahead of the bell, poised for a rebound after the iPhone maker fell for five straight sessions, the longest losing streak since January.
Gap (NYSE:GPS) inched up 0.3 percent higher as the retailer said its June same-store sales fell 1 percent, compared with a 2 percent decrease last year.
Alibaba Group Holding (NYSE:BABA) added 2.7 percent ahead of the bell, brushing aside a report that the Chinese e-commerce giant’s senior executive Patrick Liu is being held in police custody over corruption allegations related to his previous job at Tencent Holdings Ltd.
Tesla Motors (NASDAQ:TSLA) climbed 1.6 percent after hiring former Burberry senior vice president Ganesh Srivats to help the electric-car maker extend its reputation for automotive luxury.
American Airlines Group (NASDAQ:AAL) added 1.9 percent after the carrier trimmed its domestic seating capacity growth plans for this year after declines in average fares.
Zillow (NASDAQ:Z) fell 3.8 percent after the company said its chief financial officer is leaving the company to pursue other business interests.
COMMODITIES:
West Texas Intermediate oil for August delivery on Nymex rose 0.4 percent to $52.98 a barrel, while August ICE Brent crude rose 0.6 percent to $58.96 a barrel. Nymex crude is on track for a 6.9 percent weekly decline, while Brent is headed for a 2.2 percent fall.
Spot gold was up 0.2 percent at $1,161.11 an ounce. Prices touched $1,146.75 on Wednesday, their lowest since March 18. U.S. gold for August delivery was unchanged at $1,159.60 an ounce.