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Rosy outlook by Alcoa points to stock gains

The Columbian
Published: January 11, 2011, 12:00am

NEW YORK (AP) — A rosy outlook by aluminum giant Alcoa is pointing to early gains in the stock market.

The company beat Wall Street earnings estimates when it reported its fourth quarter results after the market closed Monday. Alcoa Inc. said that it expects a 12 percent jump in demand this year, with sales up as much as 11 percent in the automotive sector.

Sears Holdings and Tiffany’s separately announced that they expect their earnings to top Wall Street expectations.

In economic news, investors will receive reports on job openings and business inventories.

Ahead of the opening bell, Dow Jones industrial average futures are up 51, or 0.4 percent, to 11,638. S&P 500 futures are up 6, or 0.5 percent, to 1,272. Nasdaq 100 futures are up 12, or 0.5 percent, to 2,294.

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