US stock futures higher after Greek bailout deal

NEW YORK (AP) ? U.S. stock futures were higher Tuesday after Europe finally put together a bailout for Greece. Strong earnings reports from some key U.S. retailers also helped.

Dow Jones industrial average futures were up 36 points at 12,965. The Dow is within sight of 13,000, a level it hasn’t crossed since May 2008, before the worst of the financial crisis.

Standard & Poor’s 500 futures added 1.9 points at 1,361.60. Nasdaq composite index futures gained 2 points at 2,584.

The countries that use the euro stitched together a $170 billion bailout for Greece, which is struggling with crushing debt. The deal is designed to prevent a catastrophic Greek default, but Europe’s long-term debt problems are far from over.

The Greek deal appeared to help temper oil prices, which remained above $104 per barrel Tuesday, a modest retreat from the highs it hit Monday.

European markets reacted cautiously to the deal. In London, the FTSE 100 index of leading British shares was up 0.68 percent at 5,945.25, after trading down earlier. The CAC-40 in France slid 0.5 percent, while Germany’s DAX dropped 0.6 percent.

Earlier, Asian shares finished mixed as talks continued in Europe. Japan’s Nikkei 225 index closed down 0.2 percent at 9,463.02 while Hong Kong’s Hang Seng rose 0.3 percent to 21,478.72

In the U.S., strong earnings reports from several retailers could also help stocks Tuesday.

Home Depot Inc. posted a 32 percent jump in fourth-quarter net income, sending its shares up 3.2 percent ahead of the market opening. Macy’s Inc. reported a 12 percent gain in the quarter, and its shares rose 3.7 percent in the premarket.

But Wal-Mart Stores Inc.’s shares fell 3 percent in premarket dealings after reporting a 15 percent profit decline for the fourth quarter. That included a rebound in its U.S. namesake business during the crucial holiday period, however.