Futures Gain On Alcoa; Nokia, Tsunami Warnings Add Uncertainty
Equities once again tried to break their recent losing streak, rising premarket after thier worst losses of the year, boosted by Alcoa’s (AA) better-than-expected earnings forecast. Both the Dow Jones Industrial Average and the Nasdaq saw 0.6% gains in premarket trading, while the S&P 500 moved up 0.7%. Although first quarter earnings aren’t expected to [...]

Equities once again tried to break their recent losing streak, rising premarket after thier worst losses of the year, boosted by Alcoa’s (AA) better-than-expected earnings forecast.

Both the Dow Jones Industrial Average and the Nasdaq saw 0.6% gains in premarket trading, while the S&P 500 moved up 0.7%.

Although first quarter earnings aren’t expected to be bullish overall, Alcoa’s large surprise profit after hours started the season off on an upbeat note; Chevron (CVX) also forecast profits would grow in the first quarter and reaffirmed full year guidance. Moreover, European borrowing costs, which spiked yesterday, eased somewhat in today’s trading.

Still, uncertainty remains: Nokia (NOK) sank more than 15% after issuing a profit warning. Also, tsunami warnings are out for parts of Indonesia after a powerful 8.6 magnitude earthquake struck off the archipelago nation’s coast Wednesday afternoon local time, followed by an 8.2 magnitude aftershock.

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