U.S. stocks headed for a strong opening Friday as investors appeared relieved that Wall Street had managed to show back-to-back rallies after mostly upbeat news.

A bright forecast late Thursday from Microsoft Corp. and quarterly results that far outpaced expectations lent strength to a notion emerging in recent days that perhaps Wall Street had been too pessimistic in its reading of the economy.

Investors looking for reasons to buy also appeared cheered by reports from U.K. newspapers that billionaire Wilbur Ross was in talks to acquire troubled bond insurer Ambac Financial Group Inc. Financial woes at many U.S. bond insurers have in recent weeks caused headaches for investors worldwide who have worried that the credit crisis could worsen should one of the companies buckle under an inability to draw new business.

Word of Ross' interest follows comments this week by New York State regulators saying they would consider lending support to shore up the struggling bond insurance industry. The move helped reassure Wall Street and helped make room for stocks to rally in recent days.

Dow Jones industrial average futures rose 80, or 0.65 percent, to 12,445. Standard & Poor's 500 index futures rose 10.90, or 0.81 percent, to 1,363.10, and the Nasdaq composite index rose 23.50, or 1.28 percent, to 1,860.50.

Bond prices fell as stocks looked to open stronger. The yield on the benchmark 10-year Treasury note, which moves opposite its yield, rose to 3.72 percent from 3.71 percent late Thursday.

The dollar was mixed against other major currencies.

Investors overseas also appeared pleased by the two-day U.S. rally, which sent the Dow up by more than 400 points.

In afternoon trading, Britain's FTSE 100 rose 1.10 percent, Germany's DAX index rose 1.70 percent, and France's CAC-40 rose 1.34 percent.

Earlier, Japan's Nikkei stock average jumped 4.10 percent after falling sharply earlier in the week. Hong Kong's Hang Seng index likewise surged 6.73 percent by the close.

The gains come as former Federal Reserve Chairman Alan Greenspan weighed in on the state of the U.S., telling the Financial Times it isn't certain that the U.S. will tip into recession even though the economy might not be growing.

Greenspan's comments come as the latest corporate news paints a mixed picture of the economy.