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Futures Add to Gains Amid Strong Earnings

Futures continued to rally Friday on the heels of a handful of robust earnings reports and amid some euro zone optimism ahead of the upcoming EU summit on Sunday.

On the earnings front, McDonald's jumped after the fast-food chain posted higher-than-expected profit.

Fellow Dow component General Electric reported earnings that were in line with analyst forecasts, while revenue beat Wall Street expectations. The conglomerate also said it expects to increase operating earnings per share at a double-digit percentage rate in 2012.

Honeywell International rose after the conglomerate posted a 45 percent earnings increase amid strength in its commercial aerospace unit. The firm also boosted its full-year outlook.

Meanwhile, Verizon was flat after the wireless carrier said quarterly revenue rose faster than estimates, but subscriber growth was slower than expected.

Microsoft edged higher after the tech giant posted earnings Thursday that met expectations and revenue that topped modest Wall Street forecasts, thanks to strong sales of its Office applications package.

Stocks finished mixed Thursdayfollowing a wild rollercoaster ride as traders struggled to digest and sift through raft of euro zone headlines ahead of the upcoming EU summit on Sunday.

France and Germany said in a joint statement that European leaders would discuss a global solution to the crisis on Sunday, but no decisions would be adopted before a second meeting by Wednesday at the latest.

European shares were higher amid optimism that policymakers would make progress on a solution to the euro zone debt crisis in the coming days.

Meanwhile, Groupon is planning on raising a much as $540 million in an initial public offering, less than previously expected. The daily deals website is planning to launch its IPO on Nov. 4 on the Nasdaq.

—Follow JeeYeon Park on Twitter: twitter.com/JeeYeonParkCNBC

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