US futures rally on aggressive Fed action

(AP) U.S. futures are heading higher a day after bold new actions from the Fed to revive the sluggish U.S. economy sent the Dow to the highest close since December 2007 when the recession started.

There is also economic data coming out of Washington on Friday on inflation, retail sales, industrial production and business inventories.

Dow Jones industrial futures are up 61 points to 13,506. The broader S&P futures have tacked on 6.9 points to 1,457.30. Nasdaq futures are up 15.25 points to 2,836.25.

The decision by the Federal Reserve to buy $40 billion a month in mortgage bonds until the U.S. economy shows a sustained recovery, the first time it's ever tied the length of a program to its success, sent markets higher across the globe.