NEW YORK (TheStreet) -- U.S. stock index futures were higher Friday as the spotlight shifted to Alibaba's (BABA) IPO on Wall Street and European shares got a boost after Scotland voted against independence from the United Kingdom.
Alibaba shares will begin trading Friday on the New York Stock Exchange after the e-commerce giant's initial public offering on Thursday was priced at $68 a share, the top of the expected price range. The IPO values Alibaba at about $168 billion, which is bigger than the current market value of companies such as Amazon (AMZN) , Cisco (CSCO) , and eBay (EBAY) .
Watch the video below for more on what's giving U.S. stocks a boost in premarket trading Friday:
Dow Jones Industrial Average
The Dow and S&P closed at record highs on Thursday after the Fed eased concerns that the central bank could initiate its first rate hike before the summer. The markets had also been awaiting the results of a Scottish independence vote.
Read More: Alibaba Ready to Soar, Prices IPO to Raise $21.8 Billion