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 17,905.03 100.23 0.56%
Nasdaq 4,778.15 12.77 0.27%
S&P 500 2,073.44 2.79 0.13%
Treasuries 2.17 -0.01 -0.23%
Data as of 1:42pm ET
Company Price Change % Change
Gilead Sciences Inc 96.03 -12.42 -11.45%
Bank of America Corp... 17.70 0.08 0.45%
Facebook Inc 81.70 1.82 2.28%
Apple Inc 112.70 0.92 0.83%
General Electric Co 25.59 -0.03 -0.12%
Data as of 1:27pm ET