Stocks dropped sharply today, following disappointing revenue from Alcoa that fell short of expectations, even though first quarter earnings came in better than last year. The aluminum producer was downgraded by BMO to underperform, and shares are trading down today.
A report from Goldman Sachs ( GS - news - people ) may have also contributed to the markets' losses. Goldman warned that the boom in commodities may be over,sending oil and metals prices lower today.
In turn, falling oil prices sent airline shares higher today, including Delta and JetBlue ( JBLU - news - people ) .
In economic news, a survey by the International Council of Shopping Centers and Goldman Sachs, showed that sales at retail chain stores rose 2.9 percent in the week ended April 9, compared to the same week last year. Sales rose just 0.1 percent week over week. With Easter falling in late April this year, the ICSC predicts sales for the month will rise 5-6 percent.
豫公网安备41010502003434号