The following video is from today's MarketFoolery podcast, in which host Chris Hill, along with Jeff Fischer and Joe Magyer, discuss the latest business news. Dow dividend giant Alcoa officially kicked off earnings season with a disappointing quarter that sent shares down more than 4%. In this segment, the guys analyze how high fixed costs lead to variable earnings for companies like Alcoa as well as Arcelor Mittal, and the extent to which companies like Caterpillar are bellwethers for what could be a rocky earnings season.

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