Alcoa's Results Buoy U.S. Futures

By Ieva M. Augstums

The stock market is heading toward a higher start after investors got some reassurance from Alcoa's(AA Quote) second-quarter results.

The aluminum maker's $454 million second-quarter loss was narrower than expected, and markets around the world were higher Thursday on hopes Alcoa is signaling that the worst of the recession is over.

Investors are anxious to see companies' earnings reports to determine how strong the economy's recovery is likely to be.

The markets are also getting news about consumer spending as retailers announce June sales. One of the first to report, Costco(COST Quote), surpassed analysts' expectations.

Dow Jones Industrial Average futures were up 50, or 0.6%, to 8,166. S&P 500 index futures were up 7.30, or 0.8%, to 881, while Nasdaq 100 index futures are up 10.25, or 0.7%, to 1,417.25.