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Stock futures narrowly higher after CAT earnings

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[April 27, 2010]  NEW YORK (AP) -- Stock futures pointed to a modestly higher open on Wall Street Monday as investors awaited Caterpillar Inc.'s earnings report and forecast for the rest of the year.

Investors view the big equipment manufacturer's results and its outlook as an economic indicator.

They got some early good news from Whirlpool Corp., which said its first-quarter profits doubled as it sold more appliances in the U.S. and other countries. That adds to the signs that consumer spending is picking up.

A series of upbeat earnings reports have sent stocks steadily higher over the past week. This week will bring a stream of reports from companies across a range of industries, including Ford Motor Co., Exxon Mobil Corp. and UPS Inc. Consumer products companies including Procter & Gamble Co. and Colgate Palmolive are also scheduled to release their results.

Investors also got some reassurance about Greece's debt problems. The Greek government on Friday said it wanted to tap a rescue package from 15 European countries and the International Monetary Fund.

Dow Jones industrial average futures rose 21, or 0.2 percent, to 11,163. Standard & Poor's 500 futures rose 2.90, or 0.2 percent, to 1,215.20. Nasdaq 100 futures gained 1.75, or 0.1 percent, to 2,054.75.

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Gold rise, while the dollar was modestly higher against most other currencies.

Oil prices were slightly higher.

In European trading stocks are higher in reaction to Greece's request for rescue funds. The FTSE-100 in London rose 0.7 percent. The CAC 40 index in Paris rose 1.1 percent.

Earlier, stocks closed higher in Tokyo. The Nikkei 225 average rose 2.3 percent.

[Associated Press; JOYCE M. ROSENBERG]

Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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