US STOCKS-S&P 500 poised to hit record high; Alcoa gains

martes 12 de julio de 2016 09:03 GYT
 

* Alcoa up after better-than-expected profit

* S&P 500 hit record high of 2,143.16 Monday

* Futures up: Dow 72 pts, S&P 9.75 pts, Nasdaq 25.25 pts (Adds details, comments, updates prices)

By Yashaswini Swamynathan

July 12 (Reuters) - The benchmark S&P 500 was poised to hit a fresh high on Tuesday, buoyed by easing political tensions globally and with Alcoa getting the U.S. earnings season off to a promising start.

Alcoa reported a smaller-than-expected drop in quarterly profit, sending the aluminum producer's shares up 4.7 percent premarket.

Investors appetite for equities has increased after strong economic data and low returns on government bonds, while easing political tensions in Britain and Japan have reduced some global uncertainties.

Though treasury yields are hovering at record lows, making equities more attractive, they stand to gain as central banks globally, led by Japan and Britain, chart out new stimulus measures.

"What is driving the market today is political stability in both Japan and the UK and a global drive for yield, which central banks are going to support," said John Brady, a senior vice president at R.J. O'Brien & Associates in Chicago.   Continuación...