1. The new iPhone 6s and 6s Plus hit stores on Friday, with dozens of people - and a robot - queueing in Sydney to kick off a global sales cycle that will be scrutinized for signs of how much juice Apple (NASDAQ:AAPL) Inc's marquee product has left.

Analysts expect a record 12 million to 13 million phones to fly off the shelves in the first weekend, up from more than 10 million last year when the hugely successful iPhone 6's launch was delayed in China, the world's biggest smartphone market.

2. The dollar held gains against the other major currencies on Friday, after data showed that the U.S. economy grew at a faster rate than expected in the second quarter, adding to expectations for a rate hike in the next months.

3. In addressing the public for the first time since the Federal Open Market Committee held its benchmark Federal Funds Rate at its current near-zero level last week, Janet Yellen said she anticipates that it will be appropriate to raise short-term interest rates by the end of the year.

4. European stocks were sharply higher on Friday, as global growth concerns subsided after Federal Reserve Chair Janet Yellen suggested the possibility of a rate hike later this year. During European morning trade, the EURO STOXX 50 rallied 2.31%, France’s CAC 40 advanced 2.46%, while Germany’s DAX 30 surged 2.30%.

5. U.S. stocks opened higher on Friday, a day after Federal Reserve Chair Janet Yellen said she expects the central bank to raise interest rates this year, easing concerns about slowing global growth.

The Dow Jones industrial average rose 174.91 points, or 1.08 percent, to 16,376.23. The S&P 500 gained 14.16 points, or 0.73 percent, to 1,946.4 and the Nasdaq composite added 47.78 points, or 1.01 percent, to 4,782.26.

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The US economy grew 3.9% in the second quarter, better than previously reported.

The GDP rise was led by consumer spending on health care, food services, and accommodation, according to the Bureau of Economic Analysis (BEA).

Economists had forecast that the third and final estimate of gross domestic product (GDP) was 3.7%, unchanged from the prior estimate. Second quarter consumption was revised up to 3.6% from 3.1%.

The average of GDP and gross domestic income (GDI) rose 0.7%, versus 0.4% in Q1. The new measure was introduced in the last quarter as a new way to gauge the economy's strength and correct the error that makes both different when, in theory, they should be equal.

The BEA also released personal consumption expenditures, a measure of consumer spending that serves as a gauge of inflation and is preferred by Federal Reserve chair Janet Yellen. It was 2.2% for Q2, unchanged from the prior estimate.

"Core" PCE", which excludes volatile food and energy prices, was 1.9%, beating the forecast for 1.8%.

Following the release, US stock futures lost a bit of their strong overnight rally, with Dow futures up more than 200 points.

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