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January 09, 2013 at 16:30 PM EST
Industrials Lead the Market Higher
The S&P 500 (INDEXSP:.INX) snapped a two-day losing streak as industrial and cyclical stocks led the market slightly higher. Yesterday after the close aluminum giant Alcoa (NYSE:AA) officially kicked off earnings season delivering in-line earnings but better-than-expected revenues. The company also said it expects global aluminum demand to grow 7% in 2013 an improvement from the 6% growth seen in 2012. Alcoa shares rose only modestly but note that the stock had already rallied 7% in the New Year. The positive outlook from Alcoa was interpreted as bullish for the broader economy buoying economically sensitive sectors like the aforementioned ...
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