Before the bell: Another day of gains ahead; data, earnings in the spotlight

U.S. stock futures were higher earlier this morning, as stocks seemed intent on extending Monday's gains. Investors were encouraged late Monday by some good news impacting bond insurers, but economic data, as well as several companies reporting earnings, may yet change that mood.

On Monday, stocks advanced after Standard and Poor's affirmed its AAA rating of troubled bond insurers MBIA (NYSE: MBI) and Ambac (NYSE: ABK). MBIA also announced late Monday it a plan to stop paying quarterly dividends. The Dow industrials surged 189 points, or 1.53%, the S&P 500 added 18 points, or 1.38%, and the Nasdaq Composite rose 24 points, or 1.05%.

At 8:30 a.m. EST, an hour before the opening bell, prices at the wholesale level for January will be reported. Economists expect, according to Briefing.com that PPI rose 0.4% in January after a dip of 0.3% the month before, and that core PPI, which excludes the more volatile food and energy prices, rose 0.2%, same as in December.

At 10:00 a.m., the Conference Board will report consumer confidence For February, which economists project dipped to 82 from 87.9 in January.

Already this morning, home foreclosure data for January was released, with the number of homes facing foreclosure jumping 57% during the month compared to a year ago. Lenders increasingly were forced to take possession of homes they couldn't unload at auctions, a mortgage research firm, RealtyTrac Inc. said Monday.