Stock futures rise as banks report earnings

July 19, 2011 - 8:14 AM
Wall Street

In this July 18, 2011 photo, specialist Neil Gallagher, foreground right, works at his post on the floor of the New York Stock Exchange. Lackluster world stocks got a boost Tuesday, July 19, from an early rebound in Europe and the U.S. as debt worries that have shadowed both regions in recent days kept Asian markets largely in check. (AP Photo/Richard Drew)

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.