Stocks ready for a run

NEW YORK (CNNMoney.com) -- U.S. stocks looked to gain at the start of trading Wednesday, as Intel's upbeat earnings boosted confidence.

Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were narrowly higher.

Futures measure current index values against perceived future performance.

A strong start to the quarterly reporting period has helped jolt markets. Stocks surged Tuesday on better-than-expected profit from aluminum giant Alcoa (AA, Fortune 500).

The positive earnings news continued Tuesday, when Intel (INTC, Fortune 500) reported its best quarter ever after the closing bell. The chipmaker reported strong demand from corporate customers and issued a sales outlook that topped Wall Street's estimates.

But with more than 20 companies in the S&P 500 releasing second-quarter earnings this week, investors remain wary about the strength of upcoming results and guidance.

"Earnings have been quite outstanding and the market has been in pretty good shape lately, but markets can't like everything about all the earnings reports," said Robert Brusca, chief economist at Fact and Opinion Economics. "At some point you're going to have to look for this to settle down."

Economy: A slew of economic reports were on tap Wednesday, including readings on retail sales, export and import prices and business inventories.

The Commerce Department said retail sales fell 0.5% in June after dropping 1.1% in May, while sales excluding autos slipped 0.1%.

Economists surveyed by Briefing.com expected total sales to have fallen 0.2%, and sales excluding autos were forecast to have held steady after falling 0.8% in May.

Fed: The markets will also be looking out for minutes from the Federal Reserve's last policy meeting, which will include an economic forecast. Those minutes are due out at 2 p.m. ET.

World markets: European shares were lower in morning trading. The DAX in Germany lost 0.2% and France's CAC 40 fell 0.6%. Britain's FTSE 100 slipped 0.7%.

In Asia, the Nikkei in Japan surged 2.7%, the Shanghai Composite added 0.8% and the Hang Seng in Hong Kong rose 0.6%.

Dollar and commodities: The dollar was up against the euro but down versus the British pound and the Japanese yen.

U.S. light crude oil for August delivery fell 30 cents to $76.85 a barrel.

COMEX gold's August contract lost $5.10 to $1,208.40 per ounce.

Bonds: Treasury prices rose slightly, and the yield on the 10-year note was steady at 3.11%. Bond prices and yields move in opposite directions.

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