* Citi due to report earns, foreclosure effect eyed
* IBM, Apple also to post results
* U.S. dollar index bounces off 10-month lows
* Futures down: Dow 44 pts; S&P 4.1 pts; Nasdaq 4 pts
* For up-to-the-minute market news see []
(Adds quote, byline)
by Rodrigo Campos
NEW YORK, Oct 18 (Reuters) - U.S. stock index futures
slipped on Monday ahead of a busy day for corporate earnings as
the U.S. dollar bounced from a 10-month low against a basket of
currencies.
All eyes were on earnings reports, including ones from
International Business Machines Corp <IBM.N>, Citigroup Inc
<C.N> and Apple Inc <AAPL.O>.
Investors will stay focused on financial shares on worries
over the potential exposure of major banks to foreclosure
losses. Concerns over the effects of a major probe into
foreclosure practices dragged the sector lower last week. For
details, see [].
"Banks have been reluctant to comment too much on this, and
certainly an earnings report would be a good time to address
it," said Rick Meckler, president of investment firm
LibertyView Capital Management in New York. "Citi statements
will be extrapolated to Bank of America and others in a similar
position."
The U.S. dollar index <.DXY> rose 0.4 percent as investors
trimmed bearish bets against the greenback on uncertainties
over how much money the U.S. Federal Reserve will print in its
latest effort to boost the economic recovery.
Two top Fed officials argued over the weekend for further
aggressive action by the central bank, with one saying the
economy needs "much more" help and the other pointing to
Japan's painful lessons. []
S&P 500 futures <SPc1> dipped 4.1 points and were slightly
below fair value, a formula that evaluates pricing by taking
into account interest rates, dividends and time to expiration
on the contract. Dow Jones industrial average futures <DJc1>
fell 44 points, and Nasdaq 100 futures <NDc1> shed 4 points.
European stocks, weighed early Monday by mining shares,
turned positive, lifted by banks. Oil fell toward one-week lows
as gains in the greenback prompted investors to halt their
charge into commodities. [].
The Fed is to release industrial production and capacity
utilization data for September at 9:15 a.m. EDT (1315 GMT), and
the National Association of Home Builders issues its October
housing market index at 10 a.m. EDT (1400 GMT)
Economists in a Reuters survey expect a 0.2 percent rise in
production and a reading of 74.8 percent for capacity
utilization. In August, production was up 0.2 percent and
capacity utilization was 74.7 percent. A reading of 14 is
expected on the NAHB index, up from 13 in September.
BHP Billiton <BHP.AX> and Rio Tinto <RIO.AX> ditched plans
for a big iron-ore joint venture in what's seen as a victory
for steelmakers, and could prompt both companies to step up
competing expansion plans. [].
Ford Motor Co <F.N> and Mazda Motor Corp <7261.T> look set
to drift further apart as the U.S. carmaker plans to wind down
its stake in the Japanese firm. That would make it easier for
Mazda to make decisions, but it may need a new partner down the
line. [].
Northeast Utilities <NU.N> will buy peer NSTAR <NST.N> in a
$9.5 billion all-stock deal to create one of the largest U.S.
utilities, the companies said. []
(Editing by Jeffrey Benkoe)
