LONDON (ShareCast) - US stocks turned negative in midday trade as investors remain jittery ahead of the start of the second-quarter results season.
Alcoa (NYSE: AA - news)
will kick off the earnings season after the close tonight. The aluminium giant is expected to have lost about 38 cents in the second-quarter.
Google (NASDAQ: GOOG - news) and Microsoft (NASDAQ: MSFT - news) are also in focus. The search engine has risen as it prepares to go head to head with the PC giant in the global software market. It's launching a new PC operating system based around its web browser Chrome.
The new Chrome OS will be aimed at netbooks initially, but will eventually be used on larger PCs as well, Google said. It added that the new system was a "natural extension" of its Chrome browser.
Industry observers will be keenly watching how Microsoft reacts. Its huge success has been built on the dominance of its Windows operating system, which is installed in most personal computers.
Intel (NASDAQ: INTC - news) and Cisco Systems (NASDAQ: CSCO - news) have joined Microsoft in the red.
The Dow Jones is down 56 at 8,106, the Nasdaq (NASDAQ: news) has dropped 18 to 1,728, while the broader S&P 500 is 10 lower at 870.
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