US futures heading lower on dour forecast for Asia

NEW YORK (AP) — U.S. stock futures are heading lower with economists growing increasingly pessimistic about Asia as well as expectations for a leaden performance from major U.S. corporations as the earnings season kicks off this week.

Dow Jones industrial futures are down 45 points to 13,491. The broader S&P futures have given up 5.7 points to 1,449.80. Nasdaq futures are down 13.25 points to 2,791.

The World Bank on Monday warned of the possibility of a "more pronounced slowdown" in China, the world's second largest economy, and it cut its growth forecast for all of Asia.

Major U.S. corporations begin posting results for the latest quarter this week, starting with Alcoa on Tuesday.

FactSet says companies in the Standard & Poor's index are expected to post an overall profit decline for the first time in 11 quarters.

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