Ford's Surprise Profit Boosts U.S. Stock Futures

Spread bets and CFDs on the U.S. stock market should consider that futures are pointing to a higher open today. U.S. stock futures are getting a boost from economic data that is expected to be good, as well as the fact that Ford turned a surprise profit last quarter.

Indeed, Ford is reporting that the third quarter saw a $1 billion profit. Even though Cash for Clunkers probably had a lot to do with this windfall, this is still good news for the company, which has been losing money for years. CNN Money reports on the latest developments, and future expectations, for Ford:

The company said cost cutting during the past year and an improved outlook for sales leads it to believe Ford will be "solidly profitable" in 2011, excluding special items. That's the most bullish outlook Ford has offered investors since it started losing money in 2005.

"Our third quarter results clearly show that Ford is making tremendous progress despite the prolonged slump in the global economy," said Ford President and CEO Alan Mulally in a statement.

This is good news for the U.S. stock market. On Friday, U.S. stocks plunged nearly 250 points to end with the bears firmly in charge. However, the Ford news, plus expectations this week of signs of economic recovery, are providing a level of optimism to investors.