Positive developments in the Spanish debt crisis pushed stocks into positive territory early this morning after Germany’s top court announced its approval of the newest version of the Euro Zone’s latest bailout program. But as sour U.S. earnings reports and forecasts started pouring in, the early stock rally quickly fizzled, dragging major indexes into the red. For the most part, investors remain rather pessimistic about this quarter’s earning season, which seems to be overshadowing all other financial news [see also Seven Simple & Cheap ETF Model Portfolio]. One of today’s biggest headlines was the highly anticipated earnings report from Alcoa (AA), which was announced yesterday after the closing bell. The blue-chip aluminum producer reported a quarterly loss, but its adjusted earnings and revenue came in above expectations. In the technology sector, two microchip makers cut their second quarter revenue outlook to reflect weaker industry conditions. As earnings reports keep piling in, markets will [...] Click here to read the original article on ETFdb.com. Related Posts: Semiconductor ETF Gets A Makeover Ten Most Successful New ETFs Of 2010 Semiconductor ETFs Soar On Intel’s Bullish Outlook March ETF Roundup: Launches, Filings, and Closures Direxion Launches Six New Leveraged ETFs
Positive developments in the Spanish debt crisis pushed stocks into positive territory early this morning after Germany’s top court announced its approval of the newest version of the Euro Zone’s latest bailout program. But as sour U.S. earnings reports and forecasts started pouring in, the early stock rally quickly fizzled, dragging major indexes into the red. For the most part, investors remain rather pessimistic about this quarter’s earning season, which seems to be overshadowing all other financial news [see also Seven Simple & Cheap ETF Model Portfolio]. One of today’s biggest headlines was the highly anticipated earnings report from Alcoa (AA), which was announced yesterday after the closing bell. The blue-chip aluminum producer reported a quarterly loss, but its adjusted earnings and revenue came in above expectations. In the technology sector, two microchip makers cut their second quarter revenue outlook to reflect weaker industry conditions. As earnings reports keep piling in, markets will [...]
Click here to read the original article on ETFdb.com.
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