US futures mixed as earnings season begins

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Associated Press

Posted on October 10, 2012 at 8:01 AM

Updated Wednesday, Oct 10 at 8:02 AM

NEW YORK (AP) — Stock futures are mixed a day after the U.S. earnings season kicked off.

Dow Jones industrial futures are down 7 points to 13,405. The broader S&P futures are up 1.1 points to 1,437. Nasdaq futures have tacked on 2.25 points to 2,736.25.

Stocks are under pressure due to a forecast from the International Monetary Fund on Tuesday, which said that the global economy continues to weaken and that the recession in Europe could extend to developing nations.

Shares of Alcoa are lower Wednesday after the aluminum maker cut its demand expectations for the year, largely because of a slowdown in China.

At 10 a.m. Eastern, economists expect the Commerce Department to report that U.S. wholesale businesses appear to be more optimistic that sales will turn around.

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