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Home > News and Opinion > Alcoa Get Things Started

Alcoa Get Things Started

Lee Siler | Wednesday, October 7th, 2009

Investors look for earnings to try and make it three up days in a row. Today is the official start of earnings season, as Alcoa (AA) will report after the close. Alcoa traded modestly higher yesterday, as this Dow component performed better than the index.

Last quarter most companies in the S&P 500 beat earnings expectations.  However, these targets were very low based on economic conditions.  Since then, analysts have started raising expectations on certain stocks and sectors, which could make it more difficult for companies to beat this quarter.

Futures are indicating a flat to down opening.  I suspect we could have a little pullback today, especially after the powerful rally we’ve seen over the past two sessions.  It’s interesting how the major averages pulled back right to their corresponding 50-day moving averages and bounced right off of it.  This is a good sign.  However, earnings will be the story for this month.

I’m putting together a stock list that should do very well through the end of the year.  I will be releasing it next week.

In the meantime, let’s have a great day…

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