US STOCKS-Wall St gains modestly after two-day selloff, Alcoa jumps
* S&P 500's 14-day moving average watched as support
* Alcoa tops expectations; shares rally
* Airlines rally after comments from American
* Indexes up: Dow 0.1 pct, S&P 0.2 pct, Nasdaq 0.3 pct (Updates to open)
By Ryan Vlastelica
NEW YORK, July 9 (Reuters) - U.S. stocks rose modestly on Wednesday, partially rebounding from a sharp two-day decline after an early read on earnings came in ahead of expectations.
Alcoa Inc was one of the S&P 500's biggest advancers, up 3.6 percent to $15.38 a day after reporting adjusted second-quarter earnings and revenue that topped forecasts.
While the former Dow component is not considered a market-moving industry bellwether, the aluminum maker is sometimes viewed as setting the tone for the season by dint of being one of the first high-profile names out of the gate with its earnings.
Wells Fargo & Co will report on Friday, while the earnings reports of dozens of closely watched companies, including Dow components, will be released next week. Continuación...