Futures Gain on Spain Reform Hopes; Apple Up

U.S stock index futures were higher amid optimism that Spain has started working with European Union officials on a potential bailout.

European shares traded higher early on Friday after the Financial Times reported that EU authorities are working behind the scenes to work out a new Spanish rescue program, which will be unveiled next week.

The market also faces quadruple witching on Friday, a day in which contracts on stock index futures, stock index options, stock equity options, and single stock futures expire. This happens once every quarter, on the third Friday of March, June, September and December.

Historically, September’s quadruple witching day has been positive for markets, with the S&P 500 closing higher 75 percent of the time.

Apple edged higher as the tech giant's latest iPhone 5 hit stores around the globe. The new phone went on sale across, Europe, Asia and Australia with mobile carriers reporting record demand. The stock closed above $700 for the first time earlier this week.

Among earnings, Darden rallied after the parent company of Olive Garden posted earnings that topped estimates and reaffirmed its sales and profit forecast for the year.

KB Home posted a surprise profit, but shares slipped as the homebuilder reported revenue that fell short of expectations.

Kraft will be replaced by UnitedHealth Group on the Dow Jones Industrial Average after the close.

By CNBC’s JeeYeon Park (Follow JeeYeon on Twitter: @JeeYeonParkCNBC)

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