* Alcoa profits in line, revs miss estimate
* Intel results due after the close
* Futures off: Dow 21 pts, S&P 500 2.2 pts, Nasdaq 6 pts
* For up-to-the-minute market news, click []
NEW YORK, April 13 (Reuters) - U.S. stock index futures
slipped on Tuesday, a day after Alcoa reported in-line
quarterly profit but lower-than-expected revenues as the Dow
closed above 11,000 for the first time in almost 19 months.
Alcoa Inc <AA.N>, a Dow component, said results benefited
from higher prices and that its markets were improving, but
warned it could face strikes at its U.S. operations. Shares of
the aluminum producer fell 1.6 percent to $14.34 in premarket
trade. For details, see []
After the closing bell, strong earnings are expected from
Intel Corp <INTC.O>, possibly offering further evidence of a
recovery in demand for electronics and personal computers. But
a stronger dollar and elevated expectations could dull any
effect on technology stocks. []
"We kicked off earnings season with Alcoa, which
disappointed and is certainly not going to be the poster child
for first-quarter earnings season," said Arthur Hogan, chief
market analyst, Jefferies & Co in Boston. "The problem with
Alcoa is they don't control their input costs. Intel clearly
controls their input costs and certainly controls the supply
and demand chain. It's more appropriate to wait until tonight,
and look at Intel to set the tone rather than Alcoa."
S&P 500 futures <SPc1> dipped 2.2 points and were 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> lost 21
points, and Nasdaq 100 futures <NDc1> fell 6 points.
CSX Corp <CSX.N>, the No. 3 U.S. railroad, is expected to
report stronger earnings as the economy, and particularly the
auto and coal industries, gain momentum.
At 8:30 a.m. EDT [], the Commerce Department will
release February international trade figures. Economists in a
Reuters survey forecast a $38.5 billion deficit compared with a
$37.29 billion deficit in January.
Also at 8:30 a.m., the Labor Department releases
import-export prices for March. Economists forecast an 0.9
percent rise in imports and a 0.3 percent increase in exports.
In February, import prices fell 0.3 percent, and exports were
down 0.5 percent.
Oil futures <CLc1> dropped for a fifth straight session to
below $84 a barrel, almost erasing April gains, as a forecast
increase in U.S. crude inventories fanned concerns about excess
supplies and sluggish demand growth. []
European shares inched lower Tuesday ahead of key U.S.
earnings reports, with banking stocks under pressure and
commodities lower as crude and gold <XAU=> prices slipped.
[]
U.S. stocks rose on Monday as expectations of solid
first-quarter earnings spurred buying in the financial, energy
and industrial sectors.
(Reporting by Chuck Mikolajczak; editing by Jeffrey Benkoe)
