Stock futures rise as banks report earnings
NEW YORK (AP) — Bank of America, Goldman Sachs and other large banks are rolling out their earnings reports, and stock futures are headed higher.
Bank of America Corp. posted a second-quarter loss of 90 cents per share Tuesday morning. That's a wider loss than analysts expected. But the bank's shares pushed higher in premarket trading. Part of the loss was a result of Bank of America's 8.5 billion settlement with mortgage-bond investors.
Ahead of the opening bell, Dow Jones industrial average futures are up 76 points, or 0.6 percent, at 12,404. S&P 500 futures are up 8 points or 0.7 percent, at 1,309. Nasdaq 100 futures are up 18 or 0.8 percent, at 2,357.
Europe's banking troubles and the impasse over lifting the U.S. government's borrowing limit pummeled the stock market on Monday.