US stock futures rose, Tesla joins Nasdaq

US stock futures advanced suggesting a raise in S&P 500 which would be the longest streak of the index in more than a month. Investors stay optimistic of upcoming earnings season.

Futures on the S&P 500 Index expiring in September rose 0.4% to 1,641.5 at 8:30 a.m. in New York. The S&P 500 has advanced 1.6% in the past three days, as better-than-forecast economic data raised concern over a scaling back of Federal Reserve stimulus. Future contracts on the Dow Jones Industrial Average rose 43 points, or 0.3%, to 15,203 today.

“A positive earnings season would help in an environment where data may still not provide an obvious picture of the U.S. economy,” said Luca Paolini, who is chief strategist at Pictet Asset Management Ltd. in London. “Profit margins have proven to be relatively resilient. The most critical issue we are looking at is company guidance for the next few quarters”.

Investors are waiting for Wednesday’s release of the minutes of the June 18-19 Federal Open Market Committee, which could explain or at leeast suggest when the Fed will begin paring back on its bond-buying program.

Alcoa results triggered the raise of global markets. The Nikkei Stock Average jumped 2.6% for its highest finish in more than a month. China shares remained volatile after data showed an increase in consumer prices. Alcoa also helped out Europe stocks, which got an additional boost from an aid disbursement for Greece that was hammered by euro-zone finance ministers.

Shares of Tesla Motors Inc. rose nearly 5% in pre-market trading on news the electric-car maker will be added to the Nasdaq 100 index next week, replacing Oracle Corp., which is moving to the New York Stock Exchange.

Shares of Barnes & Noble Inc. fell 2.6% in pre-market trading after the bookstore chain stated that its Chief Executive Officer William Lynch was stepping down, effective immediately. Company has struggled to succeed in the tablet business.