News Column

Alcoa Slips, Market Dips

Jan. 8, 2013

US stocks traded lower Tuesday after aluminium manufacturer Alcoa started the quarterly blue-chip earnings season by delivering operating profits that met Wall Street expectations.

Alcoa Inc, traditionally the first of the 30 components in the Dow Jones Industrial Average to report quarterly results, said that its sales slipped, but the decline was smaller than market expectations.

The Dow industrials fell 55.44 points, or 0.41 per cent, to 13,328.85. The broader Standard & Poor's 500 Index lost 4.74 points, or 0.32 per cent, to 1,457.15. The technology-heavy Nasdaq Composite Index was off 7.01 points, or 0.23 per cent, to 3,091.81.

The US currency rose to 76.45 euro cents from 76.23 euro cents on Monday. The dollar was down against the Japanese currency to 86.91 yen from 87.53 yen.

Source: Copyright 2013 dpa Deutsche Presse-Agentur GmbH

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