Stocks: Positive start to earnings season

January 9, 2013: 8:38 AM ET
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NEW YORK (CNNMoney)

Trading could be quiet on Wednesday, as investors wait for more corporate earnings to confirm a positive start to the reporting season.

U.S. stock futures pointed to a flat open.

Aluminum producer Alcoa (AA) became the first Dow component to report fourth-quarter results after the bell on Tuesday, posting earnings in line with expectations but better-than-expected sales. The news sent shares of the company nearly 2% higher in premarket trading.

Shares of wireless broadband provider Clearwire (CLWR) surged in after-hours trading Tuesday on news that Dish Network (DISH) had offered to buy the company, kicking off a takeover battle with Sprint (S). Shares of sprint were down nearly 3% in premarket trading.

However, U.S. stocks fell for the second day in a row on Tuesday, as investors cautiously braced for Corporate America to start reporting quarterly earnings.

Fear & Greed Index

European markets were slightly higher in afternoon trading, while Asian markets ended mixed. The Shanghai Composite closed even on the day, while the Hang Seng added 0.5% and Japan's Nikkei advanced 0.7%.

Markets
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Index Last Change % Change
Dow 17,811.12 -3.82 -0.02%
Nasdaq 4,780.12 21.87 0.46%
S&P 500 2,070.25 3.22 0.16%
Treasuries 2.24 -0.02 -0.93%
Data as of 1:54pm ET
Company Price Change % Change
Kinder Morgan Inc 41.03 0.28 0.69%
Apple Inc 118.59 0.99 0.84%
Facebook Inc 77.39 1.76 2.33%
Hewlett-Packard Co 39.22 1.59 4.24%
Transocean Ltd 23.33 -1.98 -7.82%
Data as of 1:39pm ET