U.S. stock index futures dip; eyes on Alcoa

PARIS, Oct 9 (Reuters) - * U.S. stock index futures pointedto a lower open on Wall Street on Tuesday, with futures for theS&P 500 down 0.21 percent, Dow Jones futures 0.13percent lower and Nasdaq 100 futures down 0.36 percent at0922 GMT.

* European shares fell for a second day on Tuesday despite amassive cash injection by China into its money markets in a moveseen as aimed at supporting the world's No. 2 economy, whileescalating tensions between Turkey and Syria in the Middle Eastsent oil higher.

* The IMF said the global economic slowdown is worsening asit cut its growth forecasts for the second time since April andwarned U.S. and European policymakers that failure to fix theireconomic problems would prolong the slump.

* Investors were also bracing for the earnings season, whichkicks off on Tuesday with results from aluminium major Alcoa.

* Analysts forecast third-quarter earnings of Wall Street'sS&P 500 companies would fall 2.3 percent from theyear-ago quarter, according to Reuters data, which would be thefirst drop in U.S. quarterly earnings in three years. Accordingto the data, 91 companies in the S&P 500 have issued negativeoutlooks versus 21 positive pre-announcements, for a ratio of4.3, the weakest showing since the third quarter of 2001.

* Chemicals maker TPC Group Inc said on Monday thatit had received a buyout proposal from Innospec Incworth as much as $721 million, topping an offer from two privateequity firms made in August.

Private equity firms First Reserve Corp and SK CapitalPartners in August had offered $627.2 million to acquire TPC.

* Edwards Lifesciences Corp cut its revenue forecastfor the third quarter, as sales of the medical device maker'sunique heart valve that was expected to drive results fell shortof estimates, sending its shares 15 percent lower in extendedtrade.

* Marathon Petroleum Corp is buying BP Plc'sTexas City refinery, the site of a deadly industrial accident,in a $2.5 billion deal that will make it the No. 4 U.S. refinerwith a bigger potential slice of lucrative exports.

* U.S. stocks slipped in light trading on Monday, pullingback from recent five-year highs ahead of what is expected to bea weak earnings season.

* The Dow Jones industrial average fell 26.50 points,or 0.19 percent, to close at 13,583.65. The S&P 500 lost5.05 points, or 0.35 percent, to 1,455.88. The Nasdaq Composite

dropped 23.83 points, or 0.76 percent, to end at3,112.35.

(Reporting by Blaise Robinson; Editing by Susan Fenton)


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