US Futures Mixed as Earnings Season Begins

October 10, 2012 - 9:34 AM

Wall Street

In this Tuesday, Oct. 9, 2012 photo, traders Stephen Guilfoyle, left, and Edward Landi work on the floor of the New York Stock Exchange. Stock futures are mixed Wednesday, Oct. 10, 2012, a day after the U.S. earning season kicked off. (AP Photo/Richard Drew)

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

Dow Jones industrial futures slipped 21 points to 13,391. The broader S&P futures fell 0.30 points to 1,435.70. Nasdaq futures tacked on 2 points to 2,736.

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.