Wall Street stock futures were flat Wednesday as investors geared up for the start of the third quarter earnings season.

Aluminum giant Alcoa reports earnings after the market closes. Investors are looking at the results for signs of an economic recovery.

Before the opening bell, big box retailer Costco Wholesale reported a 6% profit fall in the August-ending quarter and said September same-store sales rose 1%.

There are no major economic reports from Statistics Canada today.

In commodities news, gold’s strength continued on Wednesday, with futures hitting a fresh record at as high as US$1,049.70 an ounce. Gold was recently higher by about US$3, near US$1,042 an ounce.

Ahead of U.S. weekly energy inventories, crude futures rose 22¢ to US$71.10 a barrel.

Overseas, the Japanese Nikkei 225 rose 1.1% to 9799.60 in Tokyo. In Hong Kong, the Hang Seng climbed 2.1% to 21241.59.

In Europe, stocks edged higher. The UK’s FTSE 100 was up 0.1% at 5,141.8, Frankfurt’s DAX was up 0.1% at 5,663.0 and Paris’s CAC-40 gained 0.2% to 3,778.7.

Record high gold prices boosted gold stocks and led the benchmark index of the Toronto Stock Exchange to a triple-digit gain Tuesday.

The S&P/TSX composite finished up 145.35 points, or 1.3%, at 11,247.97.

Eight of the index’s 10 sectors were higher, led by a 4.14% surge in the materials group, which is home to gold miners.

Gold prices hit a record high above US$1,040 an ounce.

Gains in commodity prices also helped lift the S&P/TSX Venture composite index and the Canadian dollar.

The junior index added 27.15 points, or 2.16%, to close at 1,281.40.

In New York, stocks rose for second straight session.

The Dow Jones industrial average was up 131.50 points, or 1.37%, at 9,731.25. The S&P 500 was up 14.26 points, or 1.37%, at 1,054.72. The Nasdaq composite index was up 35.42 points, or 1.71%, at 2,103.57.

IE