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 17,256.07 64.70 0.38%
Nasdaq 4,630.55 -7.44 -0.16%
S&P 500 2,003.55 1.39 0.07%
Treasuries 1.75 0.03 1.68%
Data as of 1:18pm ET
Company Price Change % Change
Yahoo! Inc 43.02 -3.44 -7.40%
Bank of America Corp... 15.35 0.15 0.99%
Apple Inc 117.17 1.86 1.61%
Facebook Inc 76.49 0.25 0.33%
Microsoft Corp 41.24 0.05 0.11%
Data as of 1:06pm ET

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