* Alcoa to start earnings season after the close
* Finance minister summit eyed
* Futures off: Dow 6 pts, S&P 0.2 pt, Nasdaq 8 pts
By Chuck Mikolajczak
NEW YORK, Oct 9 U.S. stock index futures edged
lower on Tuesday, indicating the benchmark S&P index may fall
for a third straight session after a warning from the IMF about
global growth prospects.
* The International Monetary Fund cut its projected global
output for 2012 to 3.3 percent from 3.5 percent in its latest
world economic outlook, warning that a lack of action by
policymakers in the U.S. and Europe to fix their economic
problems could extend the current slump.
* The IMF warnings comes on the heels of a growth forecast
cut for East Asia by the World Bank on concerns China's slowdown
could last longer than expected.
* Investors were also eyeing a euro zone finance ministers'
meeting and a visit by German Chancellor Angela Merkel to Greece
for any signs of progress in dealing with the region's debt
* On Monday, the euro zone finance ministers and the
International Monetary Fund held a "thorough and robust" debate
on Greece, but failed to make significant progress in deciding
how best to get the country back on track with its bailout
* S&P 500 futures slipped 0.2 point 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 shed 6
points, and Nasdaq 100 futures dipped 8 points.
* Earnings season gets underway in the United States when
Dow component Alcoa Inc reports quarterly earnings.
Analysts expect Alcoa's third-quarter results to show it broke
even, down from a profit of 15 cents per share a year earlier,
according to Thomson Reuters data.
* Analysts forecast third-quarter earnings of Wall Street's
S&P 500 companies would fall 2.3 percent from the
year-ago quarter, according to Thomson Reuters data, which would
be the first drop in U.S. quarterly earnings in three years.
According to the data, 91 companies in the S&P 500 have issued
negative outlooks versus 21 positive pre-announcements, for a
ratio of 4.3, the weakest showing since the third quarter of
* Recent earnings warnings from large multinationals such as
FedEx Corp, Caterpillar Inc and Hewlett-Packard
Co which have cited weakness in Europe and China have
left investors cautious about the prospects for corporate
* Edwards Lifesciences Corp cut its revenue forecast
for the third quarter, as sales of the medical device maker's
unique heart valve that was expected to drive results fell short
* European shares gave up early gains and turned negative as
concerns over slowing global growth and its impact on corporate
earnings weighed, although charts signaled a bounce back.
* Asian shares rose but gains were moderated by concerns
over global growth prospects, especially in China, and expected
weak U.S. corporate earnings.