* Alcoa gains after earnings
* Tesla to be added to Nasdaq 100
* Intuitive Surgical slumps after forecast
* Futures up: Dow 30 pts, S&P 3.9 pts, Nasdaq 8 pts
By Chuck Mikolajczak
NEW YORK, July 9 U.S. stock index futures rose
on Tuesday, putting the S&P 500 on pace for a fourth straight
advance, after results from Alcoa buoyed optimism about the
current earnings season.
* Alcoa Inc marked the beginning of earnings season
after the close on Monday, reporting adjusted earnings that
topped expectations and said it still sees solid global demand
growth for aluminum products this year. Shares of the largest
U.S. aluminum producer rose 1.6 percent to $8.05 in premarket
* The earnings report helped boost confidence in an earnings
season that is currently forecast to show lackluster growth.
* According to Thomson Reuters data through Monday morning,
analysts' expectations call for S&P 500 earnings growth to rise
2.9 percent in the second quarter from a year ago, while
quarterly revenue is forecast to increase 1.5 percent from a
* The earnings calendar remains fairly light for the
remainder of the week, with only 5 S&P 500 companies scheduled
to report, highlighted by JPMorgan Chase & Co and Wells
Fargo & Co on Friday.
* The benchmark S&P 500 index has risen 1.6 percent
over the past 3 sessions as economic data has helped ease
concerns over the possible pullback in stimulus measures by the
U.S. Federal Reserve.
* S&P 500 futures rose 3.9 points and were above fair
value, a formula that evaluates pricing by taking into account
interest rates, dividends and time to expiration on the
contract. Dow Jones industrial average futures gained 30
points, and Nasdaq 100 futures added 8 points.
* Tesla Motors Inc gained 2.8 percent to $125
before the opening bell as Nasdaq OMX Group Inc said it
will replace Oracle Corp on the Nasdaq 100 stock index,
reflecting the rising profile of the U.S. electric car maker.
* Intuitive Surgical slumped 14 percent to $430.05
in premarket trade after the maker of the da Vinci surgical
robot, said on Monday it expects second-quarter revenue below
* European shares extended their gains into a second session
on optimism about the health of the world-leading U.S. economy
and a solid start to the earnings season there.
* Asian shares gained, taking heart from a rally on Wall
Street spurred by strong U.S. job data last week.