Alcoa Kicks Off Earnings Season as Wall Street Rises Again (AA, MRK)
The second-quarter earnings season kicked off today and US stocks continued to rise for a third session. Several big reports came after the close of the bell including results from Alcoa (AA), whose shares rose 1.4%. Intel (INTC) was downgraded by several analysts and saw its stock drop about 3.6%. Economic reports in the US showed that consumer credit jumped in May on a surge in credit-card use and more jobs were added than expected for the month of June. The US dollar retreated from its three-year high on Monday as bond yields fell on taper expectations for the Fed's stimulus.
Word on the Street
- GDP outlook for the US is cut on Monday by the White House.
- Consumer credit rises the most in a year, is this a sign that low borrowing costs helped boost economic growth?
- Alcoa (AA) reports earnings results after the bell.
- Immigration legislation in the US has the possibility of remaking America's workforce.
- Merck (MRK) and Pfizer (PFE) Team Up to Fight Diabetes.
Published on Jul 8, 2013By InvestorGuide Staff