NEW YORK (CNNMoney) -- U.S. stocks were headed for a higher open and a third straight day of gains Tuesday, as investors geared up for more corporate earnings and held out hopes that European officials are working on a plan to stave off a eurozone collapse.
U.S. stock futures were up between 0.2% and 0.6%.
Stocks have advanced for two straight sessions, fueled by a better-than-expected July jobs report. All three major indexes -- the Dow Jones industrial average, the S&P 500 and the Nasdaq -- are at the highest levels since early May.
Investors remain optimistic that European officials will follow through, after Mario Draghi's comments last week in support of a bond-buying program to help lower borrowing costs in Spain and Italy.
Disney (Fortune 500), one of the Dow's best performers this year, reports after the closing bell Tuesday. Results due later in the week include News Corp ( , Fortune 500), Macy's ( , Fortune 500) and J.C. Penney ( , Fortune 500).,
While many bellwether companies have already reported second-quarter results, investors are still watching corporate earnings for clues about the health of the broader economy.
U.S. stocks closed higher Monday amid continued momentum from Friday's upbeat jobs report and lower borrowing costs in Spain and Italy. The situation in both countries remains precarious, however, with fears looming that Spain may soon need a bailout.
Economy: At 3 p.m. ET, the Federal Reserve will release data on June consumer credit, which is expected to have expanded by $10 billion versus the month prior, according to a survey of analysts by Briefing.com.
Companies: Shares of Fossil ( ) climbed after the fashion accessories retailer's second quarter profit jumped 12% and topped forecasts.
Shares of British banking giant Standard Chartered fell 24% in London trading on Tuesday. The bank allegedly helped Iran avoid sanctions by concealing $250 billion worth of transactions over nearly 10 years, according to banking regulators in New York.
Standard Chartered said in a statement that it "strongly rejects the position or the portrayal of facts" made by the New York officials.
Best Buy's (Fortune 500) stock continued to move higher in premarket trading a day after the company's founder and major shareholder, Richard Schulze, offered to take the electronics retailer private at $24 to $26 a share, a 36% to 47% premium.,
Shares of Apple (Fortune 500) were higher in premarket trading. The stock has rebounded more than 8% since a 4% pummeling the day after it missed forecasts and guided lower. In fact, Apple shares are now just 3% below the all-time high of $644 set in April.,
Sirius shares got a lift after the satellite radio company raised its annual profit forecast.
Shares of CVS rose after the retail drug store boosted its outlook for the year.
Later Tuesday, MGM is forecast to report a loss of 15 cents a share on $2.34 billion in revenue.
Oil for September delivery rose 49 cents to $92.69 a barrel.
Gold futures for August delivery gained 60 cents to $1,613.50 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 1.61% from 1.56% late Monday.
|The Winklevoss twins are Bitcoin bulls|
|Bernanke's advice for college grads|
|Signs of new housing bubble in several areas|
|Prison exclusive: Bernie Madoff can't sleep|
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||3.66%||3.58%|
|15 yr fixed||2.79%||2.72%|
|30 yr refi||3.64%||3.57%|
|15 yr refi||2.79%||2.72%|
Today's featured rates: