Alcoa's (NYSE:AA) earnings report has long stood as the unofficial kickoff signal of each earnings season, typically setting a tone by which subsequent releases are measured. While this quarter appears to have followed the expected pattern, there are some who have begun to question the relevance of Alcoa as a member of the Dow Jones Industrial Average. The Dow has started 2013 in impressive fashion, while Alcoa has languished.

In the video below, contributor Doug Ehrman discusses Alcoa's numbers, the tone they bring to earnings season, and the company's place in the market, and in the Dow, as a bellwether.

Motley Fool contributor Doug Ehrman has no position in any stocks mentioned. The Motley Fool owns shares of Freeport-McMoRan Copper & Gold. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.