Stocks set for more gains after upbeat earnings

July 13, 2010 7:29:41 AM PDT
Upbeat reports from Alcoa and CSX to kick off earnings season are sending stock futures higher. The market is set to build on a five-day winning streak.

Both Alcoa and CSX say volume and sales increased during the second quarter, a welcome sign during a period where most economic reports showed the economy was expanding but at a much slower pace that many traders had hoped.

Earnings will likely continue to dictate trading over the next few weeks. Chipmaker Intel reports earnings Tuesday.

Dow Jones industrial average futures are up 47, or 0.5 percent, at 10,228. Standard & Poor's 500 index futures are up 6.60, or 0.6 percent, at 1,083.20, while Nasdaq 100 index futures are up 13.50, or 0.7 percent, at 1,833.75.