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 17,369.20 173.78 1.01%
Nasdaq 4,627.95 61.81 1.35%
S&P 500 2,014.33 19.68 0.99%
Treasuries 2.33 0.02 1.00%
Data as of 10:49am ET
Company Price Change % Change
Bank of America Corp... 17.18 0.15 0.88%
Intel Corp 33.54 0.97 2.96%
Facebook Inc 74.86 0.75 1.01%
Apple Inc 107.72 0.73 0.69%
Citigroup Inc 53.31 0.16 0.30%
Data as of 10:34am ET