US STOCKS-Wall St set to open lower after Alcoa's results

martes 11 de octubre de 2016 08:52 GYT

* Oil prices retreat from one-year highs

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* Futures down: Dow 43 pts, S&P 6.5 pts, Nasdaq 6.5 pts (Adds details, comments, updates prices)

By Yashaswini Swamynathan

Oct 11 (Reuters) - Wall Street was set to open lower on Tuesday after Alcoa kicked off the third-quarter earnings season on a disappointing note.

Alcoa's shares fell 4.2 percent in premarket trading after the aluminum producer reported revenue and profit that fell short of market expectations.

Overall earnings of S&P 500 companies are expected to fall by 0.7 percent in the third quarter, according to Thomson Reuters data.

Oil prices fell 0.9 percent, a day after hitting a one-year high, as investors questioned whether a deal to cut output would be enough to rebalance the market by next year.

"Right now the market is on a fence and earnings will begin to resolve its recent choppiness and uncertainty, pushing investors one way or another," said Andre Bakhos, managing director at Janlyn Capital in Bernardsville, New Jersey.   Continuación...