US STOCKS-Wall Street set for flat open after selloff

martes 8 de abril de 2014 09:19 GYT
 

* Eli Lilly ordered to pay $3 bln in damages in Actos case

* Alcoa earnings due after the close

* Futures: Dow off 5 pts, S&P flat, Nasdaq up 7 pts (Updates prices)

By Chuck Mikolajczak

NEW YORK, April 8 (Reuters) - U.S. stocks were poised for a flat open on Tuesday, in the wake of a three-session selloff, as investors look to the start of corporate earnings season.

* The S&P 500 suffered its biggest three-day drop in two months and the Nasdaq posted its worst three-day decline since November 2011 on Monday as investors bid down Internet stocks and rotated into defensive names.

* The recent slump has pushed the Dow, Nasdaq and S&P 500 into negative territory for the year.

* Earnings season gets under way this week, with results due from companies including Alcoa Inc after the close, retailer Bed, Bath & Beyond on Wednesday, while financials JPMorgan Chase & Co and Wells Fargo & Co close out the week with results on Friday.

* S&P 500 companies' first-quarter earnings are projected to have increased just 1.1 percent from a year ago, Thomson Reuters data showed. The forecast is down sharply from the start of the year, when profit growth was estimated at 6.5 percent.   Continuación...