Tuesday, January 09, 2007
And We're Off!
Not much happened today in the markets. The SPX was flat, losing just 0.73 points to 1,412.11. We are still ok in green.
Earnings season began today after the bell. Alcoa kicked it off with some great results. The aluminum giant not only beat estimates for its top and bottom line, but it provided a ’07 outlook that for earnings that was 10-cents above expectations. Lets hope that momentum can carry through tomorrow and give us some lift in the SPX.
Oil fell sharply again today reaching an intraday low of $54.25. This decline in energy prices might give us some cause for concern soon in this earnings period as the SPX is made up of a large number of energy companies. If these companies post poorer results because of the decline in the energy prices then that could cause drops in our favourite index....and we never like drops.
Until next time.
Earnings season began today after the bell. Alcoa kicked it off with some great results. The aluminum giant not only beat estimates for its top and bottom line, but it provided a ’07 outlook that for earnings that was 10-cents above expectations. Lets hope that momentum can carry through tomorrow and give us some lift in the SPX.
Oil fell sharply again today reaching an intraday low of $54.25. This decline in energy prices might give us some cause for concern soon in this earnings period as the SPX is made up of a large number of energy companies. If these companies post poorer results because of the decline in the energy prices then that could cause drops in our favourite index....and we never like drops.
Until next time.
# posted by Paul @ 6:06 PM 
