U.S. stocks were poised to start higher as futures rose on mostly positive earnings and economic data.
Ford reported its first full-year profit in four years and expects another full-year profit in 2010. Procter & Gamble beat expectations, as did 3M who also raised their earnings expectations for 2010.
The Labor Department released its weekly report on initial jobless claims before the open. Then number of people filing for unemployment benefits for the first time totaled 470,000, a decline of 8,000 from the prior week’s revised number. The drop was less-than-expected, but still showing improvement. At the same time, the government released its monthly report on durable goods orders, a measure on manufacturing. Orders for long lasting goods rose 0.3% in December.
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