Wall Street to open higher as Greek deal passes

By Chuck Mikolajczak

NEW YORK (Reuters) - U.S. stocks were poised for a higher open on Monday, putting the S&P 500 on track to bounce back from its biggest one-day loss of the year, as Greece's parliament approved strict financial reforms needed to obtain its latest international bailout package.

The European banking shares index gained 1.1 percent, and an index of Greek banks jumped 10.8 percent after the vote, which had sparked widespread rioting in Athens. The euro gained 0.22 percent against the dollar.

Bank of America Corp climbed 2.4 percent to $8.27 in New York premarket trade and Citigroup Inc advanced 2 percent to $33.59.

"There was some apprehension about it, but the fact of the matter is it was done, and it's given some very real clarity to markets in terms of what kind of risk Greece represents to the market," said Peter Kenny, managing director at Knight Capital in Jersey City, New Jersey.

"The politicians that were put in place, particularly the prime minister by the (European Central Bank), delivered on the goods, and the markets are largely banking on the fact he will be able to deliver on the actual outcome."

Even with parliamentary approval, the Greek government remained under pressure to convince a skeptical euro zone that it would abide by the terms of a multi-billion-euro rescue package.

S&P 500 futures rose 7.9 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 rose 73 points, and Nasdaq 100 futures added 15.5 points.

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