Investors await Alcoa for signs of earnings bottom

Date: Wednesday, October 7, 2009

Investors await Alcoa for signs of earnings bottom

The stock market turns its focus to materials, which have ranked
second among the best-performing sectors in the S&P 500 so far this
year, with investors looking to get a handle on whether earnings have
indeed bottomed out. Alcoa's results, due out after the close, will
provide an initial reading on this front.

GOLD HITS NEW HIGHS ON RISING INVESTMENT DEMAND

Gold futures soar to a new record high just below $1,050 an ounce, with
gyrations in the dollar again making themselves felt in metals trading.

DOLLAR REBOUNDS AGAINST JAPANESE YEN

The dollar reverses a sharp loss and moves higher on the Japanese yen,
with strategists citing fears that recent gains could invite
central-bank
intervention.

CRUDE RISES AS DATA SHOW DROP IN CRUDE INVENTORIES

Crude-oil futures edge up, trading above $71 a barrel after a
government report shows a drop in U.S. crude inventories as imports
fell.

STOCK MARKET SURGE PROMPTS WARNING TO INVESTORS

Many mutual funds are poised to celebrate stellar returns this year,
but one fund firm is going out of its way to warn investors not to get
too giddy