Wall Street readies for third straight day of gains

Wall Street appears ready to claim a third straight day of gains as stocks continue a rally cheered by brighter economic news and expectations of higher corporate profits. All three major U.S. stock indexes gained at least a third of a percent, ahead of the start of third-quarter earnings reports that begin Wednesday, when aluminum-maker Alcoa (AA) will be the first of the Dow industrials to report earnings after markets close.

Shares of Alcoa were more than 2 percent higher in pre-market trading to $14.22. Analysts expect the company to lose 11 cents a share -- its fourth consecutive quarterly loss -- on estimated revenue of $4.55 billion.