Dow Chemical rises before the bell after earnings beat

Chemical maker Dow Chemical was rising by more than 2% in pre-market trading in New York on Thursday after beating on its fourth quarter earnings report.

Although it posted a loss during the quarter due to a change in how it distributes legal costs, its operating profit was 6.5% higher compared with the corresponding quarter of 2015. Earnings per share were 99 cents, with a Wall Street consensus of 88 cents.

Net sales rose to $13.02bn from $11.46bn, also surpassing analysts' estimates of $12.38bn

Dow's chief executive Andrew Liveris was recently appointed by US President Donald Trump as the head of a new advisory body on manufacturing.

The company is also currently in the process of a $130bn merger with competitor Dupont, but the acquisition is currently being looked at by EU antitrust regulators.

"We are seeing early signs of positive economic momentum, with the United States in expansionary mode, driven by the ongoing strength of the consumer and the tailwind of a new incoming administration promising structural reforms," Chief Executive Andrew Liveris said in a statement.