Alcoa and Governor Andrew Cuomo have reached a deal in order to keep a New York aluminum smelter open.» Read More
In some way, we feel sorry for Danica Patrick, who won her first race on her 50th try this weekend. At least on the surface, it couldn't have come at a worse time in a worse place.
Shares of major semiconductor companies and telecom equipment firms rose Wednesday morning as solid a first-quarter report and outlook from chip maker Intel lifted both sectors.
All three major indexes finished slightly higher Tuesday, led by energy and bank stocks, as investors processed some not-horrible earnings results. Airline stocks skidded amid concerns about fuel prices and viability.
Stocks traded mixed Tuesday as not-horrible earnings failed to quell market jitters about earnings.
Stocks opened higher Tuesday after a tame core inflation reading, a better-than-expected manufacturing report and news of a Delta-Northwest deal.
Futures actually moved up at 8:30 ET, despite PPI much stronger than anticipated (core PPI was in-line, apparently because car and truck prices were dropping; the NY Empire State Index was stronger than expected).
For the week ending Friday, April 11, 2008 the US Markets ended the week in negative territory. There was not a lot of movement in the markets for most of the week, as the major indices traded on a mix of news including same store sales, record highs in oil, flight cancellations from major airlines, and disappointing first quarter results from Alcoa (AA). The markets tumbled on Friday on General Electric's (GE) disappointing earnings.
American Airlines stepped up inspections and hoped to have all of its 300 MD-80 aircraft ready to go Saturday afternoon its first full daily schedule in a week on Sunday.
First Alcoa, then GE missed earnings. This is a rare occurrence, and as a result the Street is changing its mindset. They are expecting more conservative guidance, and looking for places where negative surprises might pop up.
Air traveler angst was sure to continue Friday as American Airlines grounded hundreds more flights. The financial toll and loss of goodwill likely would grow as well, as the inspection-related mess spread further to other carriers and hurt an industry already bleeding cash thanks to high fuel costs.
Short-dated U.S. Treasury debt prices gained Tuesday on firming expectations for Federal Reserve interest rate cuts in the face of a sagging economy.
The news was not particularly good today, and so a modest drop was certainly a decent performance. Consider: 1) semis weak on AMD's poor guidance 2) materials mixed on Alcoa below estimates 3) Fed minutes full of concern about economic slowdown
Stocks closed lower amid more bad news in the financial sector and a report showing the Federal Reserve is more worried about a recession than it has previously indicated.
European shares snapped a two-day winning streak to end Tuesday 1 percent lower, led down by banks on persistent worries of more losses from a global credit crisis, and by weakness in technology shares.
Stocks struggled back to level ground after investors shrugged off a slew of bad news from technology companies, real estate and banks.
There's plenty of hand wringing around first quarter earnings, and Alcoa didn't help by kicking off the reporting season with a miss.
Stocks held lower on a slew of bad news, as troubles in technology, more signs of weakness in the banking system and a reminder that the housing slump is far from thwarted a week-long mostly positive run on Wall Street.
With Alcoa's report yesterday afternoon, the official start to earnings season is here. Here are the current forecasts from Thomson Financial...
Stocks opened broadly lower as a slew of warnings that company earnings would slip in the first quarter, especially in technology, combined with more fear in the financial sector to dampen the recent positive run on Wall Street.
Futures are down slightly, but have been stable throughout the morning, despite rather downbeat commentary from Alcoa and AMD. Metals a bit weaker (the IMF sold 12 percent of its gold stake, so gold is down 1 percent), dollar fairly stable, Europe down about 1 percent on average.