US stocks rising sharply as overseas markets observe solid gains

NEW YORK — U.S. stock futures are sharply higher, buoyed by broad gains in overseas markets, as solid reports from European banks give investors a burst of optimism. The gains in futures come on the heels of the market’s best July in 20 years.

Barclays PLC said its first-half net profit increased 10 percent on stronger earnings from its investment banking division. Still, losses from bad loans rose as consumers in both the U.S. and Britain had trouble repaying debt.

Meanwhile, in the U.S., health insurer Humana Inc. said its second-quarter profit rose 34 percent on higher premiums.

Dow Jones industrial average futures are up 103 to 9,229. Standard & Poor’s 500 index futures are up 11 to 996, while Nasdaq 100 index futures are up 23 to 1,625.