Stocks pointed higher as commodity prices rise

NEW YORK — Stocks futures are pointed slightly higher a day after an afternoon rally tempered a third straight session of losses. Commodity prices are up after floods damaged wheat, corn and soybean fields. That is helping push stocks higher.

Target Corp. reports a 2.7 percent increase in first-quarter earnings as a strong credit card business offset weak revenue.

Ahead of the opening bell, Dow Jones industrial average futures are up 17 points, or 0.1 percent, at 12,454. Standard & Poor's 500 index futures are up 1.7, or 0.1 percent, at 1,327. Nasdaq 100 futures are up 1.8 points, or 0.1 percent, at 2,339.

Tuesday, the Dow fell as much as much as 170 points before paring back its losses and closing down nearly 70 points. Concerns about the global economy and a lower earnings forecast by Hewlett-Packard spooked markets.