Reply #3: Stock futures point higher for Wall Street

[Pale Blue Dot]

FRANKFURT (MarketWatch) — U.S. stock futures pointed to a higher open for Wall Street on Wednesday, as investors appeared set to track a rise by European equities while shrugging off a disappointing start to earnings season by Alcoa Inc.

Futures on the Dow Jones Industrial Average DJ1Z +0.99% rose 117 points to 11,447. Futures on the Standard & Poor’s 500 index SP1Z +0.94% gained 12.2 points to 1,201.80, while Nasdaq 100 futures ND1Z +1.18% rose 24 points to 2,312.50.

A “cautiously optimistic” tone tied to ideas European officials are moving to rein in the region’s debt woes has provided a lift as European equities turned higher, said Michael Hewson, market analyst at CMC Markets in London.

Aluminum producer Alcoa AA +2.08% kicked off third-quarter earnings season after Tuesday’s close, reporting a third-quarter profit of $172 million, or 15 cents a share, falling short of estimates of 22 cents a share.

http://www.marketwatch.com/story/stock-futures-point-higher-for-wall-street-2011-10-12