Stock index futures rose on Friday after European Union leaders agreed on measures that partially addresses the region's crippling sovereign debt crisis.

* The summit agreed on stricter budget rules for the euro zone but failed to secure changes to the EU treaty among all the member countries. Investors viewed the agreement positively, with the FTSEurofirst 300 index of top European shares <.FTEU3> gaining 1.1 percent.

* Equities have risen in anticipation of a deal, with the S&P 500 up 6.5 percent since November 25. But Wall Street tumbled on Thursday after the European Central Bank dashed hopes for an even stronger deal.

* Banks, which have been pressured by the European uncertainty, rallied in premarket trading. Bank of America Corp rose 1.8 percent to $5.69, while JPMorgan Chase & Co added 1.2 percent to $32.60, and Citigroup Inc rose 1.8 percent to $28.25.

* S&P 500 futures rose 11.5 points and were above 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 jumped 106 points, and Nasdaq 100 futures added 14.75 point.

* Chipmakers will be in focus a day after Texas Instruments Inc cut its revenue outlook for the current quarter, warning that demand was broadly lower.

* The Commerce Department will release October International Trade data at 8:30 a.m. EST. Economists expect a deficit of $43.5 billion in October versus a September deficit of $43.11 billion.

* The Thomson Reuters/University of Michigan Surveys of Consumers preliminary December consumer sentiment index will come at 9:55 a.m. EST Economists predicted a reading of 65.5, compared with 64.1 in the final November report.

* Wall Street fell sharply on Thursday after the ECB dashed hopes of a financial bazooka to contain the crisis. The S&P and Nasdaq each fell about 2 percent, while the Dow was off more than 1 percent.

(Reporting By Ryan Vlastelica; editing by Jeffrey Benkoe)