Thursday, October 8, 2009
Market Reflections 10/7/2009
Stocks drifted Wednesday with the S&P ending slightly higher at 1,057. The biggest news hit after the close as aluminum producer Alcoa posted a better-than-expected bottom line for the third quarter but one helped by cost cuts not rising demand. Shares of Alcoa slipped in after-hours trade. Gold held on to its big gains, ending at $1,042 while oil slipped about $2 to end just under $70 following a big build in gasoline inventories. The dollar firmed slightly which kept a lid on commodities.