Wall Street stocks were set to open slightly higher Friday on optimism about Greece's bailout, but gains could be small as investors appeared ready to take a breather after the S&P 500 posted its best daily gain in two weeks.
Investor sentiment improved after euro-zone officials said the finishing touches were being put on the bailout package, which would include a debt-swap deal that cuts the value of bonds held by financial firms by about 70 percent.
But the market was likely to show signs of fatigue after the S&P rose to a 9-month high on Thursday, pushing above technical resistance level toward 1360.
Data showed U.S. consumer prices rose 0.2 percent in January, the most in four months, highlighting concerns of growing energy costs, but market reaction was muted.
What this does is alleviate any argument inviting (more quantitative easing), said Todd Schoenberger, managing director at Landcolt Trading in Wilmington, Delaware. But all eyes are on Greece so this shouldn't have an impact on trading.
S&P 500 futures rose 2.8 points and were in line with 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 added 36 points, and Nasdaq 100 futures were flat.
President Barack Obama will stay focused on China on Friday with an announcement of streamlined financing for U.S. exporters that compete against foreign firms that are afforded unfair advantages, White House officials said.
Diversified U.S. conglomerate 3M Co
Applied Materials Inc
U.S.-listed shares of Baidu Inc
(Editing by Padraic Cassidy)