US futures rise as companies post strong earnings

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Associated Press

Posted on November 19, 2012 at 8:01 AM

Updated Monday, Nov 19 at 8:02 AM

NEW YORK (AP) — Stock futures are rising on strong quarterly earnings from U.S. corporations and optimism that a deal to avoid the so-called fiscal cliff can be reached before Jan. 1.

Dow Jones industrial futures are up 57 points to 12,627. The broader S&P futures have added 7.2 points to 1,367. Nasdaq futures are up 15.5 points to 2,548.50.

Home improvement company Lowe's said Monday that its third-quarter profit surged 76 percent. That follows a quarterly report from Home Depot last week, which raised its outlook for the year.

Tyson Foods, the country's largest meat company, easily topped Wall Street expectations Monday for its fourth quarter earnings.

House Democratic leader Nancy Pelosi said over the weekend that she's hopeful lawmakers can reach a deal on the budget and avoid crippling tax hikes and budget cuts.

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