Investing.com - U.S. stock futures pointed to a sharply higher open on Tuesday, boosted by Alcoa’s upbeat fourth-quarter results and new hopes of progress in tackling the debt crisis in the euro zone.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a rise of 0.83%, S&P 500 futures signaled a 0.95% jump, while the Nasdaq 100 futures indicated a 0.87% surge.
German Chancellor Angela Merkel and International Monetary Fund President Christine Lagarde were to meet later in the day, to discuss Greece’s bailout.
On Monday, Merkel warned Greece on Monday that it would not be possible to give further financial aid without swift progress on its second rescue package, including a voluntary write-down on Greek debt held by private creditors.
She also said she was optimistic that the European Union will be able to sign off its fiscal pact by the end of January.
Alcoa announced a fourth quarter loss on Monday due to a steep plunge in aluminum prices, but its revenue beat expectations and the company gave a positive outlook for global demand for the metal, especially in the aerospace and automotive markets. Shares in the aluminum producer were up 2.39% in pre-market trade.
In the financial sector, MF Global was expected to come into focus as federal authorities unearth new details and confront potential obstacles in their hunt for roughly USD1.2 billion in customer money that disappeared from the brokerage firm.
The U.S. Securities and Exchange Commission has recently urged banks to publish more details about their exposure to European sovereign debt, a factor in the bankruptcy of MF Global.
Meanwhile, Raymond James Financial remains in the lead to buy brokerage Morgan Keegan from Regions Financial Corp in a deal that would bolster the firm's prowess in trading securities for customers.
Elsewhere, technology stocks were slated to be active after Microsoft said on Monday that sales of its revolutionary Kinect sensing device for the Xbox game console hit more than 18 million just over a year since its launch. Microsoft shares jumped 1.01% in pre-market trade.
TSMC, the world's top contract chip maker, posted its lowest sales in 22 months in December as the semiconductor industry struggles with shrinking demand and a slowing economy. Shares dipped 0.07% in after hour trading.
Across the Atlantic, European stock markets were sharply higher. The EURO STOXX 50 surged 2.49%, France’s CAC 40 jumped 1.85%, Germany's DAX soared 2.15%, while Britain's FTSE 100 climbed 1.13%.
During the Asian trading session, Hong Kong's Hang Seng Index rose 1%, while Japan’s Nikkei 225 Index returned from a three-day weekend to trade 0.4% higher.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a rise of 0.83%, S&P 500 futures signaled a 0.95% jump, while the Nasdaq 100 futures indicated a 0.87% surge.
German Chancellor Angela Merkel and International Monetary Fund President Christine Lagarde were to meet later in the day, to discuss Greece’s bailout.
On Monday, Merkel warned Greece on Monday that it would not be possible to give further financial aid without swift progress on its second rescue package, including a voluntary write-down on Greek debt held by private creditors.
She also said she was optimistic that the European Union will be able to sign off its fiscal pact by the end of January.
Alcoa announced a fourth quarter loss on Monday due to a steep plunge in aluminum prices, but its revenue beat expectations and the company gave a positive outlook for global demand for the metal, especially in the aerospace and automotive markets. Shares in the aluminum producer were up 2.39% in pre-market trade.
In the financial sector, MF Global was expected to come into focus as federal authorities unearth new details and confront potential obstacles in their hunt for roughly USD1.2 billion in customer money that disappeared from the brokerage firm.
The U.S. Securities and Exchange Commission has recently urged banks to publish more details about their exposure to European sovereign debt, a factor in the bankruptcy of MF Global.
Meanwhile, Raymond James Financial remains in the lead to buy brokerage Morgan Keegan from Regions Financial Corp in a deal that would bolster the firm's prowess in trading securities for customers.
Elsewhere, technology stocks were slated to be active after Microsoft said on Monday that sales of its revolutionary Kinect sensing device for the Xbox game console hit more than 18 million just over a year since its launch. Microsoft shares jumped 1.01% in pre-market trade.
TSMC, the world's top contract chip maker, posted its lowest sales in 22 months in December as the semiconductor industry struggles with shrinking demand and a slowing economy. Shares dipped 0.07% in after hour trading.
Across the Atlantic, European stock markets were sharply higher. The EURO STOXX 50 surged 2.49%, France’s CAC 40 jumped 1.85%, Germany's DAX soared 2.15%, while Britain's FTSE 100 climbed 1.13%.
During the Asian trading session, Hong Kong's Hang Seng Index rose 1%, while Japan’s Nikkei 225 Index returned from a three-day weekend to trade 0.4% higher.