Aluminum producer Alcoa Inc. kicked off an eagerly awaited round of first-quarter earnings reports Monday, announcing profits that fell short of estimates and first-quarter sales that beat analysts’ expectations.
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Stocks ended mixed Monday, as investors welcomed news that Washington Mutual could see a $5 billion investment, but showed caution ahead of the quarterly earnings period, due to get underway after the close.
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Bonds came off their lows Monday afternoon as investors bought back Treasurys on a weaker-than-expected consumer borrowing report.
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Stocks turned mixed late Monday afternoon, as investors took a step back ahead of the quarterly earnings period, due to get underway after the close of trade.
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Stocks rallied Monday afternoon as talk that Washington Mutual may receive a $5 billion cash infusion encouraged investors looking for further signs that the worst could soon be behind the market.
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Bonds dipped lower Monday as investors bought riskier stocks instead, cheering corporate news that made traders forget about dour economic news from the previous session.
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Ahh. April is here. T.S. Eliot’s cruelest month. He wasn’t referring to the deluge of bad earnings reports we’re likely to see in the next few weeks. But he might as well have.
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