2:59 AM
Stock index futures dip
Addison Ray
PARIS | Thu Oct 7, 2010 5:11am EDT
PARIS (Reuters) - Stock index futures pointed to a flat to slightly lower open on Wall Street on Thursday, with futures for the S&P 500 down 0.01 percent, Dow Jones futures down 0.2 percent and Nasdaq 100 futures down 0.02 percent at 0845 GMT (4:45 a.m. EDT).
Investors awaited results from Alcoa (AA.N), due to kickoff the third-quarter earnings season. The U.S. aluminum group was expected to post a modest third-quarter profit, but the main focus will be on the company's forecast to see if rising metal prices will send earnings surging in the final quarter.
Tech shares will again be in focus on Thursday after Samsung Electronics (005930.KS) posted disappointing earnings guidance, sparking slowdown concerns as prices of its key products slide, hitting shares and ending the technology group's run of record quarterly performances. The world's largest memory chipmaker, which has a tradition of beating even the most bullish estimates, faces a tough outlook as a fragile world economy has hit demand for TVs and computers.
Economic data on tap on Thursday includes weekly initial jobless claims and chain store sales for September.
On the earnings front, Micron Technology MU.N and PepsiCo (PEP.N) are among the companies expected to report.
After the bell on Wednesday, Himax Technologies Inc (HIMX.O), which makes chips for flat-panel displays, cut its third-quarter outlook to reflect order cutbacks in August and September.
Marriott International Inc (MAR.N), posted a profit that met Wall Street expectations, as corporate travel, the company's primary market, rose amid a broader business-led recovery.
The dollar fell broadly on Thursday, sliding to a 15-year low versus the Japanese yen and an all-time low against the Swiss franc on the prospect of more money-printing by the U.S. Federal Reserve.
Gold prices rose to a record high above $1,360 an ounce on Thursday, extending earlier gains made on the back of a slide in the U.S. dollar and the potential for key Asian consumer Vietnam to resume bullion imports.
European stocks were down 0.2 percent in early trade on Thursday, as investors took a breather after a sharp 2-day rally while keenly awaiting policy decisions and comments on the economy from both the Bank of England and the European Central Bank.
Tech shares slumped on Wednesday, hit by worries about demand for semiconductors and data storage. The Nasdaq bore the brunt of the day's selling, led by data system services provider Citrix Systems (CTXS.O).
The Dow Jones industrial average .DJI added 22.93 points, or 0.21 percent, to 10,967.65. The Standard & Poor's 500 Index .SPX inched down 0.78 of a point, or 0.07 percent, to 1,159.97. The Nasdaq Composite Index .IXIC dropped 19.17 points, or 0.80 percent, to 2,380.66.
(Reporting by Blaise Robinson; Editing by Karen Foster)
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