As mentioned in last article, Alcoa will kick off the earnings season with its own earnings release. Good start to the earnings season as Alcoa’s shares climbed after hours after it swung to a fourth-quarter
profit and said it expects global aluminum demand to grow 7% in 2013,
compared with 6% in 2012.
We pay attention to this aluminium king not only because it is the first major company releasing results. But it also represents the whole of industrial metal industry. Industrial metals are like copper, aluminium, zinc and tin. Wall Street look to this company to know the future of the industry. Wallstreet listens to what the CEO said about the forecasts and projections. Hence it is extra important for us to take note.
Prices of industrial metals on the rise today:
As traders, we should identify the GIANTS who represent that industry and listen to their press conference speech or report. All these info are FREE in US! Probably this piece of news will bring some confidence back to precious metals.
And it gives the earnings season an excellent start. Today the ASIA market goes up because of this news. I anticipate the whole general 4th quarter results from US to be good and better than 3rd quarter. Looking forward to this quarter earnings.