US stock futures rise on earnings optimism

AP News
Posted: Jul 09, 2013 7:50 AM
US stock futures rise on earnings optimism

NEW YORK (AP) — U.S. stock futures are rising the morning after aluminum giant Alcoa Inc. kicked off earnings season by beating estimates.

Dow Jones industrial futures are up 37 points at 15,197. The broader Standard & Poor's 500 futures are up 5 points at 1,641. Nasdaq futures rose 10 points to 2,969.

Alcoa reported a second-quarter loss Monday after the markets closed. But it noted strong demand for aluminum in autos and airplanes. Excluding costs for closing smelters and other one-time expenses, its results came in better than Wall Street expected.

Wall Street will be looking ahead to other earnings coming this week, including big banks JPMorgan Chase & Co. and Wells Fargo & Co.

Markets worldwide mostly rose over confirmation that Greece would get its next batch of bailout cash.