US Stock Futures Up As Crude Oil Prices Stabilize; Economic Data, Earnings In Focus

US stock futures are higher this morning as crude oil prices stabilized. Investors are awaiting economic reports. Futures for the Dow Jones Industrial Average gained 55 points to 12,092.00, while those for the S&P 500 index climbed 7 points to 1,309.70. Futures for the Nasdaq 100 index rose 15.50 points to 2,323.75. US stock market closed mixed yesterday, with the Dow Jones Industrial Average dropping 37.28 points, the Nasdaq Composite gaining 14.91 points and the S&P 500 declining 1.30 points. US gross-domestic-product (GDP) data for the fourth quarter will be released at 8:30 a.m. ET. However, the final UMich index of consumer confidence for February will be released after the opening bell. Shares of Boeing Co BA gained about 4.5% in pre-market trading after the company received a $30 billion tanker contract from the US Air Force. Shares of Lloyds Banking Group PLC LYG dropped about 5% in pre-market trading after the group reported upbeat 2010 earnings, but reported a disappointing margin and integration costs. American International Group AIG reported a surge in its Q4 profit to $11.2 billion on asset sales. Applied Materials Inc AMAT reported its FQ1 profit at $506 million, or $0.38 per share, versus $83 million, or $0.06 per share, in the year-ago period. The company's revenue increased to $2.69 billion from $1.85 billion. The company's adjusted income came in at $0.36 per share. However, analysts were expecting earnings of $0.33 per share on revenue of $2.58 billion. For the current quarter, Applied projected its net sales in the range of $2.69 billion to $2.82 billion. The company also projected its adjusted income in the range of $0.34 to $0.38 per share. However, analysts were expecting earnings of $0.31 per share on revenue of $2.51 billion. Salesforce.com CRM reported its FQ4 net income at $10.9 million, or $0.08 per share, compared with $20.4 million, or $0.16 per share, in the year-earlier period. The company's revenue increased 29% to $456.9 million. Excluding one-time items, the company's earnings came in at $0.31 per share. However, analysts had expected earnings of $0.27 per share on revenue of $452.1 million. CRM also lifted its sales guidance for the full fiscal year. Interpublic Group IPG is expected to report its Q4 EPS at $0.31 on revenue of $1.91 billion. Public Storage PSA is projected to post its Q4 earnings at $0.72 per share on revenue of $382 million. J.C. Penney Company Inc JCP is estimated to report its Q4 EPS at $1.08 on revenue of $5.70 billion. Tenet Healthcare THC is estimated to post its Q4 earnings at $0.08 per share on revenue of $2.35 billion. Pepco Holdings Inc POM is projected to report its Q4 EPS at $0.11 on revenue of $1.38 billion. Positive sentiment ruled the European markets today. While STOXX Europe 600 Index has advanced 0.71%, London's FTSE 100 Index moved up 0.24%. Asian markets ended higher, with Japan's Nikkei Stock Average gaining 0.71% and Australia's S&P/ASX 200 rising 0.49%. Nymex crude oil for April delivery gained 0.45% to $97.72 a barrel. Gold futures for April delivery dropped $11.10 to $1,404.70. Read more from Benzinga's Markets.