Daily Market Wrap: April 11, 2012 Wednesday, April 11, 5:31 PM ET
The markets climbed back into positive territory, after 5 straight days of declines, with Alcoa kicking off earnings season on a positive note.
Investors were also keeping an eye on the Federal Reserve's latest beige-book report, which indicated that the U.S. economy expanded at a moderate rate in recent weeks.
The Mortgage Bankers Association is reporting a 2.4 percent drop in mortgage applications last week, as demand for refinancing declined.
Also on the economic front, a report by the Labor Department showed a 1.3 percent increase in import prices in March.
Earnings season got off to a good start with Alcoa (NYSE:
AA) posting strong earnings which beat expectations and revenue which also topped estimates.
TITN) Machinary posted fourth-quarter earnings and revenue that beat expectations, with a positive outlook for the current year.
Tomorrow, we'll take a look at the numbers for weekly jobless claims, as well as earnings results from Rite Aid (NYSE:
RAD) and Google (NASDAQ: GOOG).
For Marketnewsvideo.com, I'm Sayoko Murase.
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Daily Market Wrap: April 11, 2012
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