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* Alcoa Inc gained 2.5 percent to $16.57 before
the opening bell. The company reported a higher-than-expected
quarterly profit due to a boost from automotive demand, higher
aluminum prices and lower energy costs.
* Another sharp decline in energy shares as oil prices tumbled
about 5 percent and growing concern over corporate profits sent
equities lower for the second straight day. The benchmark S&P
index has fallen in seven of the past nine sessions and is down
3 percent from its most recent record high on Dec. 29.
* Financials including JPMorgan Chase, Wells Fargo, Goldman
Sachs and Citigroup are among companies also due to report this
week, along with Dow component Intel Corp.
* Fourth-quarter earnings are expected to show growth of 3.8
percent over the year-earlier period, according to Thomson
Reuters data.
* Shares of energy companies are likely to be under pressure
again as oil prices continued to stumble. Brent and U.S. crude
touched their lowest levels in almost six years as a big OPEC
producer stood by the group's decision not to cut output to
tackle a glut in the market.
* Brent was last down 3 percent at $46.03, while U.S. crude was
off 2.5 percent at $44.93. Transocean shares were down 1.7
percent to $15.25 in premarket trading. [O/R]
* A rise in retail shares pushed up European equities, which
also benefited from expectations of new economic stimulus
measures from the European Central Bank. [.EU]
* Asian stocks were mostly on the defensive as the continuing
slide in crude oil prices turned investors cautious towards risk
assets.
Futures snapshot at 7:22 a.m. EST (1222 GMT):
* S&P 500 e-minis were up 10.75 points, or 0.53 percent, with
148,953 contracts changing hands.
* Nasdaq 100 e-minis were up 23.5 points, or 0.56 percent, in
volume of 24,526 contracts.
* Dow e-minis were up 96 points, or 0.55 percent, with 24,144
contracts changing hands.
(Reporting by Chuck Mikolajczak; Editing by Lisa Von Ahn)
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