US markets take a breather after recent strong gains $AA:xnys $BAC $CAT

  • US markets finished the session rather flat overnight with the NASDAQ outperforming the other majors on a day of light volumes due to Monday’s Columbus Day Public Holiday
  • US markets attention was on Alcoa as the aluminium giant unofficially kicked of the Q3 reporting season with a result that showed a slowdown in its earnings recovery as the European Debt Crisis and concerns about global demand put a dampener on underlying aluminium prices. The stock finished the session up but fell in after market trading to $9.77
  • Markets were slightly perturbed by news from Europe with the Slovakian government rejecting the last round of voting on the EFSF package
  • Leading the gains on the Dow were CAT, BAC and MCD which finished up 2.08%, 1.93% and 0.94% respectively
  • Dow Jones - 0.15% S&P500 + 0.05% NASDAQ + 0.66%
  • The EUR rallied to a 1.3683 high before pulling back, the AUD is currently trading at 0.9957 after earlier breaking through parity
  • Gold prices were mixed overnight and spot Crude closed down 0.2%
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