NEW YORK ? U.S. stock futures are rising the morning after aluminum producer Alcoa issued an outlook that suggested improving prospects for the global economy.
Dow Jones industrial futures rose 1 percent to 12,456. The broader S&P 500 futures gained 1.1 percent to 1,290. The Nasdaq composite rose 1 percent to 2,370.
Late Monday, Alcoa CEO Klaus Kleinfeld predicted that global aluminum demand will increase 7 percent in 2012.
Alcoa's revenue topped expectations and the results gave investors hope for a strong earnings season in the U.S. They also are looking to a new round of talks in Berlin for progress in solving Europe's debt crisis. European markets are sharply higher.
On the negative side, luxury jeweler Tiffany & Co. reported weak holiday sales growth U.S. and Europe and shares dropped 7 percent in premarket trading.
The U.S. economy has shown signs of strength recently, and investors are hoping that will boost corporate earnings results due to be announced in coming weeks. In particular, improvement in the U.S. labor market has raised the possibility of a recovery in American consumer spending, one of the main motors of global economic growth.
Britain's FTSE 100 index of leading shares rose 1.6 percent to 5,700.32 and Germany's DAX rose 2.1 percent to 6,182.5. France's CAC-40 rose 2.7 percent to 3,214.40.
The European Central Bank said Tuesday that the amount of overnight deposits that the region's banks held with it rose to euro481.93 billion ($613 billion) on Monday, breaking the record euro463.56 billion set only a day before.
The high deposits mean banks are keeping spare cash in a safe place even though they earn low interest. They also reflect large amounts of cash put into the banking system from ECB emergency loans of euro489 billion taken up by more than 500 banks in late December.
Dutch electronics giant Royal Philips Electronics NV kicked off corporate Europe's earnings season by warning that its fourth-quarter profit was worse than expected due to a weak European market that made it difficult to charge customers as much as it wanted to for light bulbs.
Overnight markets in Asia were marginally higher thanks to improving economic data out of the U.S., said Cameron Peacock of IG Markets in Melbourne.
The optimism was tempered by news that China's import growth decelerated sharply in December in a new sign the world's second-largest economy is slowing.
Japan's Nikkei 225 index, reopening after a three-day holiday weekend, added 0.4 percent to close at 8,422.26. Hong Kong's Hang Seng index rose 0.7 percent to 19,004.28 while South Korea's Kospi jumped 1.5 percent to 1,853.22. Australia's S&P ASX 200 rose 1.1 percent at 4,152.20. Benchmarks in Singapore, Taiwan, and Indonesia also posted gains.
Benchmark crude for February delivery rose $1.46 to $102.77 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 25 cents to settle at $101.31 in New York on Monday.
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