After 5 day losing streak, Alcoa’s earnings beat helped snap Wall Street out of its doldrums yesterday. The market gapped higher and traded in a range from there. Investors are becoming more optimistic that earnings season will be a boon for the bulls. Those investors hoping for further Fed stimulus may be out of luck for the time being if there continues to be improving macro data along with earnings.
The Dow closed up 86 points yesterday. The Nasdaq and S&P added 25 and 10 points respectively. Today’s big earnings report will be after the bell when Google reports. Definitely one to watch to see how the giant tech stock is faring. [Read more...]