U.S. stock index futures rose sharply on Friday after data showed the economy grew at a faster-than-expected 5.7 percent pace in the fourth quarter, the quickest rate in more than six years.

S&P 500 futures rose 8.6 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration of the contract. Dow Jones industrial average futures gained 74 points, and Nasdaq 100 futures added 15.75 points.

(Reporting by Edward Krudy; Editing by Padraic Cassidy)