Markets close mixed as investors await 4th quarter company reporting

Markets close mixed as investors await 4th quarter company reporting

Markets were mixed on Wall Street on Monday as investors awaited the first of many quarterly earnings statements that will help gauge the economic recovery.  Alcoa Inc, the first major company to release a 4th quarter report posted revenue that topped expectations, but profits fell short of forecasts.  Many industry experts see the mixed market close as typical, citing that many are waiting for fourth quarter reporting to start. Giants Intel and JP Morgan Chase will be releasing reports later this week.

The Dow Jones industrial average rose 45.80, or 0.4 percent, to close at 10,663.99. The Standard & Poor’s 500 index rose 2.00, or 0.2 percent, to end at 1,146.98, while the Nasdaq composite fell 4.76, or 0.2 percent, to close at 2,312.41.

Asian markets hit 17-month highs as the Japanese Nikkei continued to rise closing at 10,798.32. A report showed China’s exports jumped 17.7% in December versus a year ago, raising hopes about the nation’s economic outlook. That in turn spurred the countries own index to jump up 1.47 point to end its session at 214.62.

Gold continues to climb back up to the record price it hit in the waning months of 2009. It rose $13.20 to settle at $1,151.40 an ounce. Gold closed at an all-time high of $1,218.30 an ounce last month. Oil fell 47 cents to settle at $82.28 a barrel on the New York Mercantile Exchange.

You may also like...