Euro rallies on reports of Spain bailout progress By Barbara Kollmeyer, MarketWatch MADRID (MarketWatch)—U.S. stock market futures edged higher on Tuesday as investors absorbed earnings from Mattel Inc. and UnitedHealth Group Inc., while results from Goldman Sachs Group Inc. and Coca-Cola Co. loomed. Economic data in focus includes consumer prices. Extending earlier gains, futures for the Dow Jones Industrial Average DJZ2 +0.17% DJZ2 +0.17% DJZ2 +0.17% rose 17 points to 13,376, while those for the Standard & Poor’s 500 index SPZ2 +0.24% SPZ2 +0.24% rose 2.4 points to 1,437.90. Futures for the Nasdaq-100 index NDZ2 +0.32% NDZ2 +0.32% rose 6.75 points to 2,738. Investors will be glued to a heavy earnings lineup for Tuesday. Better-than-expected earnings from Citigroup Inc. C +1.17% C +1.17% and forecast-beating retail sales drove the Dow Jones Industrial Average DJIA +0.72% DJIA +0.72% to its second straight gain on Monday, with that index closing up 95.38 points, or 0.7%, to 13,424.23. See: 5 biggest positive earnings surprises so far include Lennar, Walgreen . Reporting ahead of the bell, Mattel MAT -1.64% MAT -1.64% MAT -1.64% beat Wall Street expectations as it posted a third-quarter profit of $365.9 million, or $1.04 per share, while net revenue rose 4% as the toy maker saw sales growth across all segments. Read: Mattel beats forecasts, sales strong across board UnitedHealth UNH +0.74% reported a 23% rise in third-quarter earnings as claim costs fell. The company lifted its full-year earnings estimate to between $5.20 and $5.25 a share from a July forecast of $4.90 to $5 a share. Read: UnitedHealth net rises 23% on lower claim costs PNC Financial Services Group Inc. PNC +0.32% reported a third-quarter profit of $1.64 a share, or $925 million, as total revenue rose 15%. Analysts surveyed by FactSet had been expecting the company to earn $1.61 a share. UNH +0.74% Results for Goldman Sachs GS +1.11% are still to come ahead of the opening bell. Analysts polled by FactSet expect the investment bank to swing to a profit of $2.21 a share in the third quarter. Analysts are also looking for a marked improvement in trading revenue from fixed income, commodities and currency. Also ahead, beverage group Coca-Cola KO -0.60% is expected to report third quarter earnings fell 2% to 51 cents a share, on sales of $12.39 billion, according to analysts polled by FactSet. See: Big earnings to watch Tuesday: Goldman, Coca-Cola . Johnson & Johnson JNJ +0.93% JNJ +0.93% JNJ +0.93% JNJ +0.93% JNJ +0.93% is also on the early list. Shares of Bankrate Inc. RATE -1.16% could also be in focus for investors. Shares tumbled 23% late Monday after the personal-finance-information provider’s quarterly and annual outlooks fell short of market expectations. See: Bankrate slammed after hours following outlook . CPI ahead, Spain bailout progress cheers Europe Economic data will also be sharing the limelight. September consumer prices will be released at 8:30 a.m. Eastern time, and economists polled by MarketWatch expect a rise of 0.5%, following a similar gain in August. A modest gain in food prices and higher gasoline costs are expected to make up the bulk of that gain. September industrial output will be released at 9:15 a.m. Eastern. Economists expect a small gain of 0.2%, after production sank 1.2% in August, the biggest drop since March 2009. While production is being depressed by weak global output, Monday’s retail sales report showed solid activity by U.S. consumers. Finally, the National Association of Home Builders/Wells Fargo housing market index is due for release at 10 a.m. Eastern, and economists expect the gauge to reach 42 in October, from 40 in September, which was the highest level since June 2006. European stocks rose Tuesday, with around a 0.5% gain for the Stoxx Europe 600 index XX:SXXP +0.46% XX:SXXP +0.46% XX:SXXP +0.46% XX:SXXP +0.46% and led by a 1.5% rally for the Spain IBEX 35 index XX:IBEX +1.31% after media reports of potential progress on the bailout front. See: Spain leads Europe stocks up on bailout chatter . Also see: 5 Europe earnings U.S. investors should care about. The euro EURUSD +0.54% rose against the dollar after media reports, citing a Spanish government official, said the country may request a line of credit from Europe’s bailout fund in order to meet a requirement for the European Central Bank to buy its bonds. See: Euro rises against dollar on Spain request. See: Spain outlines path to bailout request: report. Within other markets, crude oil for November delivery rose 10 cents to $91.95 a barrel, while gold for December delivery rose $3.90 to $1,741.50 an ounce. Asia stocks took inspiration from stronger U.S. data and the Spain chatter. The Nikkei Stock Average JP:100000018 +1.44% soared 1.4% as the yen fell against the dollar. Barbara Kollmeyer is an editor for MarketWatch in Madrid.

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