The Joplin Globe, Joplin, MO


April 9, 2014

US stocks move higher as earnings get underway

NEW YORK — Stocks rose for a second day in a row Wednesday, helped by a positive earnings report from the giant aluminum company Alcoa.

KEEPING SCORE: The Standard & Poor’s 500 index rose two points, or 0.1 percent, to 1,854 in the first 30 minutes of trading. The Dow Jones industrial average rose 32 points, or 0.2 percent, to 16,287 and the Nasdaq composite rose 16 points, or 0.4 percent, to 4,129.

A IS FOR: Alcoa, the former Dow member and aluminum mining company, said it earned 9 cents per share excluding one-time items. The results came in ahead of analysts’ expectations. Alcoa is typically the first large company to report its results each quarter, making it the unofficial start to corporate earnings season every three months. Alcoa rose 40 cents, or 3.2 percent, to $12.92, the second biggest gain in the S&P 500.

MATERIAL WORLD: Alcoa’s results helped push other mining and material stocks higher. U.S. Steel rose 2 percent, industrial parts company W.W. Grainger rose 1.5 percent and auto parts company Delphi increased 1.5 percent.

HOTEL VACANCY: La Quinta Holdings, the parent company of the hotel chain La Quinta Inns, fell 42 cents, or 2.5 percent, to $16.56 on its first day of trading. La Quinta was owned by the private equity firm Blackstone Group.

ECONOMY WATCH: The Federal Reserve will release minutes from its March policy meeting later Wednesday. Also, the government reported that U.S. wholesale businesses increased their stockpiles for an eighth consecutive month in February. Their sales rose at the fastest pace since November.

BONDS AND COMMODITIES: Bond prices fell. The yield on the 10-year Treasury note edged up to 2.71 percent from 2.68 percent late Tuesday. The price of crude oil rose 18 cents to $102.74 a barrel. Gold fell $7 to $1,301.50 an ounce.


Text Only

Given that the U.S. Supreme Court has ruled that electronic devices and communications are protected from searches and seizure without a warrant, do you think Missouri needs Amendment 9 added to its constitution?

A. Yes.
B. No.
     View Results
Twitter Updates
Follow us on twitter
NDN Video
Kerry: Humanitarian Cease-fire Efforts Continue Raw: Corruption Trial Begins for Former Va Gov. The Carbon Trap: US Exports Global Warming UN Security Council Calls for Gaza Cease-fire Traditional African Dishes Teach Healthy Eating 13 Struck by Lightning on Calif. Beach Baseball Hall of Famers Inducted Israel, Hamas Trade Fire Despite Truce in Gaza Italy's Nibali Set to Win First Tour De France Raw: Shipwrecked Concordia Completes Last Voyage Raw: Sea Turtle Hatchlings Emerge From Nest Raw: Massive Dust Storm Covers Phoenix 12-hour Cease-fire in Gaza Fighting Begins Raw: Bolivian Dancers Attempt to Break Record Raw: Israel, Palestine Supporters Rally in US Raw: Air Algerie Flight 5017 Wreckage Virginia Governor Tours Tornado Aftermath Judge Faces Heat Over Offer to Help Migrant Kids Kangaroo Goes Missing in Oklahoma More M17 Bodies Return, Sanctions on Russia Grow