Tuesday, January 10, 2012

Wall Street: Dow Jones Meanders Ahead Of The Start Of 4Q Reporting Season

Wall Street recap: Dow Jones meanders ahead of the start of 4Q reporting season
The Dow Jones ended 33 points higher at 12393 as investors continued to keep a close eye on events in Europe and geared up for the start of 4Q11 report announcements.

In Europe, German Chancellor and French President said that progress has been made on a proposed intergovernmental pact to increase fiscal discipline across the Eurozone. The leaders added that the pact could be signed ahead of the Jan 30 EU summit and go into effect as early as March.

After the closing bell, Alcoa report its 4Q11 revenue that topped estimates but incurred a larger-than-expected net loss due to slumping aluminum producer's prices and rising costs.

Daily DJIA: A Breakout Above The Ascending Triangle Resistance Will Spur A New Rally

Source: StockCharts

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