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US stocks little changed as IMF cuts outlook

New York - Wall Street stocks opened little changed on Tuesday as the IMF trimmed its forecast for global growth and the market prepared for a trove of earnings from big US banks.

Five minutes into trade, the Dow Jones Industrial Average stood at 17 575.79, up 0.11%.

The broad-based S&P 500 added 0.10% at 2 044.08, while the tech-rich Nasdaq Composite Index dipped 0.05% to 4 830.86.

The International Monetary Fund cut its 2016 global growth forecast by 0.2 percentage point to 3.2%, citing a worsening outlook for Brazil and some other emerging economies and tepid growth in many advanced economies.

Alcoa got earnings season off to a downcast open after the market close on Monday, reporting a steep drop in first-quarter earnings and announcing plans to cut as many as 2 000 jobs.

Large banks report earnings later in the week.

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