Shaky Street Embraces Alcoa Earnings

Wall Street opened with modest gains Thursday following a decent second-quarter earnings report from Alcoa and fewer new jobless claims in the government's latest weekly tally.

Traders have been bracing for corporate earnings, and hoping for confirmation that an economic recovery, even a tepid one, is in the offing. Alcoa ( AA - news - people ) helped boost those hopes with a narrower second-quarter loss than it expected and cautious optimism for the rest of the year. The aluminum producer said a pickup in auto production from Ford Motor ( F - news - people ) and Toyota ( TM - news - people ) in the second half should help its business, and said pricing is showing signs of stabilizing.

Read Full Article from Forbes

- Posted: 2009-07-09 10:44:30

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