Permanent Value

Stocks Slightly Lower on Weak Start to Earnings Season

Michael La Salle
January 15th, 2010

Stocks were slightly down this week as the Dow Jones Industrial Average was down 0.1% and S&P 500 fell 0.8%. The small decline can be attributed to a weak start to the earnings season. Alcoa, the world’s third largest producer of aluminum, reported weaker than expected earnings by reporting earnings of 1 cent per share, cents below analysts’ estimates of 6 cents per share. In other earnings news, JPMorgan Chase posted fourth quarter earnings of 74 cents per share, beating analysts’ expectations of 61 cents per share.