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Stocks: Another record day ahead?

Stocks: Another record day ahead?
MGN
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Tuesday, May 7, 2013 - 7:39am

Investors were catching their breath Tuesday morning, a day after U.S. markets notched further gains and benchmark indexes closed at record highs.

U.S. stock futures rose ahead of a session likely to be dominated by earnings data from corporate America.

Shares of DirecTV rose in premarket trading after the company reported better-than-expected earnings. Molson Coors Brewing, meanwhile, reported sales and profits that fell short of forecasts.

OfficeMax widely missed earnings forecasts and said revenue this year would come in below analysts' estimates. At the same time, the office supply company issued a special dividend of $1.50 a share.

Also, Walt Disney Company, which reports earnings after the close, inked a deal with Electronic Arts to co-develop Star Wars video games.

Whole Foods and Kraft spin-off Mondelez are among the other companies set to report results after the market close..

U.S. stocks finished higher Monday, boosted by gains in Bank of America and Apple. The S&P 500 closed at a record high of 1,617.50.

European markets climbed in morning trading, driven by strong results from financial firms Societe Generale and HSBC.

Asian markets ended higher. The Shanghai Composite increased 0.2% and the Hang Seng added 0.6%. The Nikkei rose 3.6% to close above the 14,000 point barrier as traders returned after a holiday.

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