Reasons to cheer

[notiCIas]

Reasons to cheer

Genentech report, Apple anticipation and Japan gains have stocks poised to open higher.

October 11, 2005: 6:00 AM EDT

NEW YORK (CNN/Money) - A tech rally both at home and overseas could give a lift to stocks at Tuesday's open.

U.S. stock futures were up in early trading, indicating a higher opening for stocks.

The futures were following a rally in Asia, led by the best day for Japanese stocks in just over a year. Major European markets also were higher in early trading.

U.S. biotech bellwether Genentech (Research) posted a better than expected third quarter profit and raised its full-year profit guidance. After the market close Tuesday, Apple (Research) is expected to also report improved earnings.

Oil prices were higher in early trading Tuesday. The November light crude futures contract for NYMEX gained 54 cents to $62.34 a barrel in electronic trading, while the November contract for Brent crude rose 63 cents to $59.41.

Treasury prices were little changed, leaving the yield on the 10-year treasury at the 4.37 percent level; the market was closed Monday for the Columbus Day holiday. The dollar gained ground on the euro but slipped against the yen.