US stock futures gain after Friday's selloff

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Associated Press

Posted on October 22, 2012 at 8:34 AM

NEW YORK (AP) — U.S. stock market futures are gaining narrowly after Friday's massive selloff, despite mixed quarterly reports from some top companies.

Dow Jones futures are up 17 points at 13,269. S&P 500 futures have added 2.1 to 1,426. Nasdaq 100 futures are gaining 9.2 to 2,673.

With little economic data due, corporate earnings are in focus. Caterpillar Inc.'s third-quarter results came in ahead of Wall Street estimates, but the construction equipment maker cut its 2012 outlook because of a weakening global economy.

Meanwhile, companies that cater to consumers, like toy maker Hasbro Inc. and clothing maker VF Corp., posted better-than-expected results.

European markets edged higher, even as the focus stayed on the tech sector, which has posted disappointing results so far. Yahoo Inc. will report after market close Monday. Asian markets also gained.

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