January 9, 2012
All three major stock market indices were up slightly today.
|Dow Jones Industrial Average (INDEX: ^DJI )
|Nasdaq (INDEX: ^IXIC )
|S&P 500 (INDEX: ^GSPC )
The biggest news today is the unofficial start of earnings season.
Each quarter, Alcoa (NYSE: AA ) is the blue-chip first reporter. And today was no different.
Alcoa reported after market close, but it was the biggest winner out of the 30 Dow stocks today (up 2.9%) as investors anticipated good news. The reported news was actually mixed, though. Alcoa's adjusted earnings came out at -0.03, either off a penny or in line with analyst estimates, depending on your preferred source. But Alcoa's Chairman and CEO Klaus Kleinfeld had this to say on the year ahead:
"For 2012, we expect global aluminum demand to grow 7% and are forecasting a global deficit in primary aluminum supply."
After Alcoa, Bank of America continued its volatile ways, gaining 1.5%. On the losing side, Microsoft (Nasdaq: MSFT ) was worst off, down 1.3%. Not that we can blame the decline on this tidbit, but this year will be Microsoft's last as a major participant at the annual Consumer Electronics Show in Las Vegas. Tonight is the final keynote address from CEO Steve Ballmer.
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