Stocks look set to extend gains

NEW YORK (AP) — Stocks looked set to extend a rally Tuesday ahead of reports that will show whether the economic recovery is picking up its pace.

Automakers such as General Motors Co., Ford Motor Co. and Toyota Motor Corp. will report December and year-end sales figures throughout the day. Analysts are forecasting a modest increase that could show that customers bought more vehicles in 2010 than in 2009, when sales plummeted to their lowest levels since 1982.

Separately, the Commerce Department will issue its report on November factory orders. Economists at JPMorgan Chase are forecasting a 0.2 percent increase in November. Orders fell 0.9 percent in October. The report is set for release at 10 a.m. Eastern.

Ahead of the opening bell, Dow Jones industrial average futures are up 41 points, or 0.4 percent, to 11,626. S&P 500 futures are up 4, or 0.3 percent, to 1,269. Nasdaq 100 futures are up 7, or 0.3 percent, to 2,257.