US STOCKS-Futures rise a day after S&P 500 hits record high
* Futures up: Dow 85 pts, S&P 11 pts, Nasdaq 25.25 pts
By Yashaswini Swamynathan
July 12 (Reuters) - U.S. stock index futures were higher on Tuesday, a day after the S&P 500 hit a record high as investor optimism was propelled by a set of strong economic data.
* The benchmark index, which came close several times this year to topping its May 2015 record, finally broke through on Monday to a new high of 2,143.16.
* The Nasdaq hit its 2016 high, also on Monday, while the Dow surged to its highest level in more than 13 months, buoyed by robust monthly jobs data on Friday that indicated a strong labor market.
* U.S. Treasury yields, which have been hovering around record lows, have also made equities more attractive.
* Investors will now turn their attention to U.S. corporate earnings. Strong corporate reports, along with low expectations for a hike in interest rates anytime soon, should keep the momentum in the market going.
* While profits of S&P 500 companies are expected to have fallen 5 percent in the second quarter, mirroring the first, analysts expect a return to growth throughout the second half of the year, according to Thomson Reuters data.
* Alcoa, kicking off the earnings season, reported a smaller-than-expected drop in quarterly profit. The aluminum producer's shares were up nearly 4 percent premarket. Continuación...