Stock futures point to higher Wall Street open

[July 09, 2009]  WASHINGTON (AP) -- The stock market is heading toward a higher start after investors got some reassurance from Alcoa Inc.'s earnings.

The aluminum maker's $454 million second-quarter loss was smaller than expected, and markets around the world are higher Thursday on hopes Alcoa is signaling that the worst of the recession is over.

Investors are anxious to see companies' earnings reports to determine how strong the economy's recovery is likely to be.

The markets are also getting news about consumer spending as retailers announce June sales. One of the first to report, Costco Wholesale Corp., surpassed analysts' expectations.

Dow Jones industrial average futures are up 50, or 0.6 percent, to 8,166. Standard & Poor's 500 index futures are up 7.30, or 0.8 percent, to 881, while Nasdaq 100 index futures are up 10.25, or 0.7 percent, to 1,417.25.

[Associated Press; By IEVA M. AUGSTUMS]

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