Stock index futures pointed to gains for Wall Street on Friday, after shares closed off session lows in the previous day, with futures for the S&P 500, Dow Jones futures and Nasdaq futures all up by around 0.5 percent by 0836 GMT.
Appetite for riskier assets improved after Greece clinched an agreement with the European Union and the IMF inspectors on extra tax rises and spending cuts to plug a 3.8 billion euros funding gap.
The plans will be voted on next Tuesday, and some doubts lingered over the highly indebted country's ability to push the plans through parliament.
U.S. stocks pared losses toward the close on Thursday, as news about Greece's deal with international lenders emerged, although worries about economic uncertainly lingered.
Data set for release on Friday is likely to provide further evidence on the pace of economic recovery, with durable goods orders for May and the final reading of U.S. first quarter gross domestic product (GDP) both due at 1230 GMT.
Durable goods order growth is expected to rebound from April's steep decline, rising about 1.5 percent overall after a fall of 3.6 percent the month before.
The final estimate for Q1 GDP should be revised up to 1.9 percent from a preliminary 1.8 percent, with most of the change coming from an upward revision to March inventories.
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On the economic front, U.S. Republicans walked out of budget talks on Thursday, setting up a showdown between President Barack Obama and House Speaker John Boehner over how to extend U.S. borrowing and avoid a looming debt default.
In Europe, the pan-European FTSEurofirst 300 <.FTEU3> index of top shares rose 1 percent to 1,086.73 points in early trade, bouncing back from a three-month closing low in the previous session, as the Greek austerity deal boosted confidence that the country could avoid a debt default.
(Reporting by Harpreet Bhal; Editing by Hans-Juergen Peters)