Stocks creep up after 2 days of losses - KSWO 7News | Breaking News, Weather and Sports

Stocks creep up after 2 days of losses

By KEN SWEET

AP Markets Writer NEW YORK (AP) - Stocks inched higher in early trading Wednesday, reversing a two-day decline, as the quarterly earnings season got underway with some positive news from the giant aluminum company Alcoa.

KEEPING SCORE: The Dow Jones industrial average rose 37 points, or 0.2 percent, to 16,943 as of 10:49 a.m. Eastern. The Standard & Poor's 500 index rose six points, or 0.3 percent, to 1,970 and the Nasdaq composite rose 19 points, or 0.4 percent, to 4,410.

ALCOA CAN'T WAIT: Alcoa kicked off the second-quarter earnings season late Tuesday, posting a profit of $138 million, better than Wall Street expected. The aluminum giant also reported stronger revenue than analysts estimated. Alcoa rose 62 cents, or 4 percent, to $15.47 on the news.

EXPECTATIONS: As companies begin turning in second-quarter results this week, investors will be looking for signs that the strengthening U.S. economy has translated into higher sales and profits. Analysts expect earnings increased 6.6 percent in the three months through June compared with the previous year, according to S&P Capital IQ, a research firm.

FED WATCH: At 2:00 p.m. Eastern time, the Federal Reserve will release minutes from its most recent meeting in June. After that meeting wrapped up, the Fed made clear that it sees no need to raise short-term interest rates from record lows anytime soon.

AAL ABOARD: American Airlines, stock ticker "AAL," rose $1.13, or 3 percent to $41.39. The world's largest airline raised its sales forecast for the second quarter, typically the busiest time of year. The news helped lift other airline stocks, including Delta, which rose 2 percent. Airline stocks had taken a beating earlier this week.

BONDS AND COMMODITIES: As investors were buying stock, they sold bonds. The yield on the 10-year U.S. Treasury note rose to 2.58 percent from 2.56 percent Tuesday. Oil fell 56 cents, or 0.6 percent, to $102.83 as one of Libya's oil fields came back online Wednesday.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 

  • Local NewsNewsMore>>

  • Zuckerberg's Holocaust comment puts Facebook on the spot

    Zuckerberg's Holocaust comment puts Facebook on the spot

    Wednesday, July 18 2018 6:08 PM EDT2018-07-18 22:08:46 GMT
    Friday, July 20 2018 10:39 AM EDT2018-07-20 14:39:57 GMT
    Mark Zuckerberg says he doesn't believe Holocaust denial content should be banned from Facebook. (Source: CNN)Mark Zuckerberg says he doesn't believe Holocaust denial content should be banned from Facebook. (Source: CNN)

    Facebook CEO Mark Zuckerberg says that while he finds Holocaust denial "deeply offensive," he doesn't believe that such content should be banned from Facebook.

    Facebook CEO Mark Zuckerberg says that while he finds Holocaust denial "deeply offensive," he doesn't believe that such content should be banned from Facebook.

  • Trump-Putin II: Planning fall event in aftermath of Helsinki

    Trump-Putin II: Planning fall event in aftermath of Helsinki

    Friday, July 20 2018 12:37 AM EDT2018-07-20 04:37:04 GMT
    Friday, July 20 2018 10:38 AM EDT2018-07-20 14:38:42 GMT
    (AP Photo/Pablo Martinez Monsivais). In this July 16, 20198, photo, U.S. President Donald Trump, left, and Russian President Vladimir Putin arrive for a news conference at the Presidential Palace in Helsinki, Finland. Trump has asked national security ...(AP Photo/Pablo Martinez Monsivais). In this July 16, 20198, photo, U.S. President Donald Trump, left, and Russian President Vladimir Putin arrive for a news conference at the Presidential Palace in Helsinki, Finland. Trump has asked national security ...

    President Donald Trump is inviting Vladimir Putin to the White House, even as the cleanup from their summit this week continues.

    President Donald Trump is inviting Vladimir Putin to the White House, even as the cleanup from their summit this week continues.

  • Divers search for bodies after duck boat accident kills 13

    Divers search for bodies after duck boat accident kills 13

    Friday, July 20 2018 7:26 AM EDT2018-07-20 11:26:30 GMT
    Friday, July 20 2018 10:38 AM EDT2018-07-20 14:38:23 GMT
    (Nathan Papes/The Springfield News-Leader via AP). Emergency responders work at Table Rock Lake after a deadly boat accident in Branson, Mo., Thursday, July 19, 2018. A sheriff in Missouri said a tourist boat has apparently capsized on the lake, leavin...(Nathan Papes/The Springfield News-Leader via AP). Emergency responders work at Table Rock Lake after a deadly boat accident in Branson, Mo., Thursday, July 19, 2018. A sheriff in Missouri said a tourist boat has apparently capsized on the lake, leavin...
    Dive teams will resume searching for five people still missing after a tourist boat capsized and sank in a southwestern Missouri lake.
    Dive teams will resume searching for five people still missing after a tourist boat capsized and sank in a southwestern Missouri lake.
Powered by Frankly