8.2 C
New York
Saturday, November 16, 2024
HomeMarkets
Markets

Alcoa (NYSE:AA) Earnings Report Boosts Index ETFs

By jnyaradi
0
62
psw-placeholder
psw-placeholder

Courtesy of John Nyaradi.

Index ETFs rose back into the green today following Alcoa’s (NYSE:AA) moderately positive earnings report last night

factory, alcoa, NYSE:AA, earnings seasonAlcoa’s (NYSE:AA) moderately positive earnings report released last night seemed to push stocks and index ETFs back into the green today.  The SPDR S&P 500 ETF (NYSEARCA:SPY) gained .25%, the SPDR Dow Jones Industrial Average ETF (NYSEARCA:DIA) gained .49%, the PowerShares QQQ Trust Series 1 ETF (NASDAQ:QQQ) added .38%, and the iShares Russell 2000 Index ETF (NYSEARCA:IWM) rose .49%.

Index ETFs likely reacted to the positive Alcoa (NYSE:AA) earnings report released yesterday, which unofficially started the Q4 2012 earnings season.  The Alcoa (NYSE:AA) report beat expectations, and investors are widely anticipating the release of the Wells Fargo (NYSE:WFC) report this coming Friday.  After a tough 2012 of volatility, Federal easing, and weak economic reports, many think this earnings season could still be disappointing, but so far, Alcoa (NYSE:AA) has held strong.  Alcoa Brings Optimism to Earnings Season.

No economic reports were released today, further supporting the notion that index ETFs are largely riding on earnings seasons results.  Unfortunately however, German industrial production rose only .2% in the month of November, again showing the signs of a European recession in full swing.  Germany’s Industrial Production Falls Short of Expectations.

Tomorrow and Friday could shake things up a bit, as we have new weekly unemployment claim numbers along with wholesale inventories tomorrow, and of course we have trade deficit, federal budget, and the all important release of the Wells Fargo (NYSE:WFC) earnings report this Friday.

And don’t forget the upcoming debt ceiling debate and sequestration battles, I think it is good that markets rose .40% on average today before the real drama hits town.

Bottom Line:  Alcoa’s (NYSE:AA) Q4 2012 earnings report likely boosted stocks and index ETFs today, although things could change tomorrow with new unemployment claims and the Wells Fargo (NYSE:WFC) earnings report this Friday.  Stay tuned.

Click here to learn more about John’s book and for a free membership to Wall Street Sector Selector

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments

Stay Connected

156,491FansLike
396,312FollowersFollow
2,320SubscribersSubscribe

Latest Articles

Load more

Note: The material presented in this commentary is provided for informational purposes only and is based upon information that is considered to be reliable. However, neither PSW Investments, LLC d/b/a PhilStockWorld (PSW) nor its affiliates warrant its completeness, accuracy or adequacy and it should not be relied upon as such. Neither PSW nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance, including the tracking of virtual trades and portfolios for educational purposes, is not necessarily indicative of future results. Neither Phil, Optrader, or anyone related to PSW is a registered financial adviser and they may hold positions in the stocks mentioned, which may change at any time without notice. Do not buy or sell based on anything that is written here, the risk of loss in trading is great.

This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities or other financial instruments mentioned in this material are not suitable for all investors. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only intended at the moment of their issue as conditions quickly change. The information contained herein does not constitute advice on the tax consequences of making any particular investment decision. This material does not take into account your particular investment objectives, financial situations or needs and is not intended as a recommendation to you of any particular securities, financial instruments or strategies. Before investing, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

Contact us: support@philstockworld.com

© Copyright - PSW, LLC.

2024
0
Would love your thoughts, please comment.x
()
x