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%.

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Markets
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Index Last Change % Change
Dow 16,727.74 -76.97 -0.46%
Nasdaq 4,387.53 -34.56 -0.78%
S&P 500 1,933.35 -12.81 -0.66%
Treasuries 2.40 0.00 0.04%
Data as of 12:27pm ET
Company Price Change % Change
Bank of America Corp... 16.76 -0.07 -0.39%
Apple Inc 98.76 -0.43 -0.43%
Facebook Inc 76.30 -0.25 -0.33%
Ford Motor Co 14.51 -0.08 -0.55%
Intel Corp 33.56 -0.43 -1.25%
Data as of 12:11pm ET