Stock Futures Up on Reports of Spain Rescue Plan, iPhone 5 Sales
NEW YORK (TheStreet) -- Stock futures were trading higher Friday on reports that Spain is getting ready to announce a financial rescue plan as soon as next week and as Apple (AAPL) shares spiked, up 0.38%, as the company's iPhone 5 went on sale across the globe Friday amid strong demand.
While the Federal Reserve might have provided "the key" to the equity market rally that has added 4% to the S&P 500 gauge in a month, "it still very much remains for the eurozone to turn it in the lock," noted Andrew Wilkinson, chief economic strategist at Miller Tabak. "Equity investors probably won't stop until they see 1500 on the S&P 500 index."
Futures for the Dow Jones Industrial Average were rising 57 points, or 52.07 points above fair value, at 13,572. The blue-chip index has risen more than 11% so far in 2012.
2012 Stock Predictions and Outlook
|Your one-stop shop for 2012 stock recommendations and market predictions.
>To contact the writer of this article, click here: Andrea Tse.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV