Alcoa Drags Markets
Alcoa’s (AA) earnings report missed expectations today and dragged all major indexes down with it. As I mentioned in the Sunday update, key earnings reports this week will come from Alcoa today, Intel on Thursday and J.P Morgan on Friday.
(AA) declined -11% and ETFs were affected across the board, both domestically and internationally.
Earnings reports this week as well as the employment figures on Thursday will be widely watched. Asia is down tonight in response to the selling on Wall Street today and China raised the reserve requirements for its banks in a sign of monetary tightening.
The rest of the week should cast more light on the strength of the ongoing rally. Significant buying came into the major indexes in the last half hour of trade, and this major repositioning at the open and close seems to have become the norm in recent months.
All the best,
John
John Nyaradi
Publisher
Wall Street Sector Selector
More on this topic
(What's this?)
Earnings Season Preview: Forget Alcoa, Focus on These Two Numbers Instead
(Wall Street Daily, 1/11/12)
The Dark Clouds Looming Over Alcoa And Aluminum
(Investment Underground » Page n..., 12/30/11)
Financial Commentators Just Want to Be Heard
(Fusion Investing and Analysis, 10/8/09)
Sign-Up for the Wall Street Sector Selector Free Newsletter!
Related Posts
Tweet This
Share on Facebook
Digg This
Save to delicious
Stumble it
RSS Feed
