Major U.S. stock indexes were expected to fall upon the opening bell today, as blue-chip Alcoa slashed its dividend. Futures on the Dow Jones Industrial Average were 20 points lower about 90 minutes before the start of trading in New York. S&P 500 and Nasdaq futures were also moderately weaker. Alcoa shares dropped 10 percent after it said on Monday that it will cut its dividend, saving the aluminum producer more than $400 million a year. Alcoa also laid out plans to cut $1 billion in capital expenditure in 2010. Investors are also awaiting the outcome of a federal reserve meeting today. The Wall Street Journal reported that “the Fed, which begins a two-day policy meeting on Tuesday, isn't expected to alter interest rates directly. But bond investors will be listening for hints that the central bank will buy long-term Treasurys.”
