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Empresas y finanzas

Stock futures rally on surprise EU agreement


    NEW YORK (Reuters) - Stock futures jumped on Friday after euro zone leaders agreed to allow rescue funds to be used to stabilize the region's banks.

    * Details of the agreement, which includes the creation of a single supervisory body for euro area banks, remain to be worked out. Still, Italian and Spanish borrowing costs fell as the move surprised markets which had little expectation for any action.

    * Financial stocks could attract the most buyers in U.S. markets as the risk of exposure to their European peers diminishes. The Select Sector Financial SPDR rose 1.4 percent in light premarket trading.

    * Equities and other risky assets have been recently weighed down by concerns that stubbornly high borrowing costs in Spain and Italy could force the fourth- and third-largest economies in the bloc to seek bailouts.

    * S&P 500 futures jumped 18 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures rose 118 points, and Nasdaq 100 futures added 33 points.

    * The steep gains trimmed a quarterly decline in S&P futures to about 4 percent. Futures have, so far, gained 2.5 percent in June.

    * The U.S. Commerce Department releases personal income and consumption data for May at 8:30 a.m. EDT. Economists in a Reuters survey expect a 0.2 percent rise in income and an unchanged reading in spending.

    * The Institute of Supply Management Chicago releases its June index of manufacturing activity at 9:45 a.m.. Economists forecast a reading of 52.5 compared with 52.7 in May.

    * The Thomson Reuters/University of Michigan Surveys of Consumers final June consumer sentiment index is due at 9:55 a.m., with economists looking for a reading of 74.1, a repeat of the preliminary June figure.

    * U.S.-traded shares of Research in Motion tumbled 16 percent after the company delayed the make-or-break launch of its next-generation BlackBerry phones until next year.

    * Hospitals and insurers providing Medicaid plans for the poor were the main corporate winners from the U.S. Supreme Court's decision Thursday to uphold President Barack Obama's Affordable Care Act, as they prepare to see an influx of newly insured customers with no prior access to healthcare.

    (Reporting by Rodrigo Campos; Editing by Bernadette Baum)