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 17,279.74 13.75 0.08%
Nasdaq 4,579.79 -13.64 -0.30%
S&P 500 2,010.40 -0.96 -0.05%
Treasuries 2.59 -0.04 -1.60%
Data as of 7:00am ET
Company Price Change % Change
Microsoft Corp 47.52 0.84 1.80%
Bank of America Corp... 16.95 -0.09 -0.53%
Oracle Corp 39.80 -1.75 -4.21%
The Coca-Cola Co 42.05 0.26 0.62%
Cisco Systems Inc 25.20 -0.02 -0.08%
Data as of Sep 19