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Stocks down before Alcoa earnings report

6:06 AM, Oct 10, 2012   |    comments
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NEW YORK (AP) - Stocks lost ground Tuesday after the International Monetary Fund predicted weaker world economic growth. Investors were also waiting for the first major corporate earnings, which came after the closing bell from Alcoa.

The Dow lost 110 points to 13,474. The S&P 500 dropped 14 points to 1,441.

The Nasdaq composite index lost 47 points to 3,065.

The slide came on the fifth anniversary of record high closes for the Dow and S&P 500. The Dow is about 700 points off its all-time high, 14,164.53. It would take a 5 percent rally from here to reach the record.

After the market closed, Alcoa, the aluminum company, said it earned 3 cents per share in the most recent quarter after accounting for special charges. Wall Street was expecting break-even.

 

 

 

 

 

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