U.S. stocks open lower as Alcoa disappoints to kick off Q3 earnings

U.S. stocks on Tuesday began trade modestly lower as Alcoa reported weaker-than-expected third-quarter results. The S&P 500 index was down 6 points, or 0.3%, at 2,157. The Dow Jones Industrial Average lost 38 points, or 0.2%, at 18,290, while the Nasdaq Composite Index gave up 10 points, or 0.2% to trade at 5,318. Alcoa Inc., less than a month away from splitting itself in two, reported worse-than-expected earnings growth in its latest earnings report amid lower prices for aluminum. The aluminum maker’s shares were don 7.4% in early trade. On the commodity front, crude-oil prices were wavering, but turned higher at the open. The International Energy Agency said production from the Organization of the Petroleum Exporting Countries rose in September.

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From:: Stock Market News

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