SmarTrend Market Close Wrap-up -- April 11, 2011
The major U.S. equity indices closed mixed Monday ahead of first-quarter corporate-earnings season and after the IMF said that higher gas prices could slow the pace of the U.S. economy.
The IMF lowered its outlook for U.S. economic growth to 2.8% in 2011. It had previously forecast 3% growth for the U.S.
In corporate news, Alcoa (NYSE:AA) reported Q1 EPS of $0.28, ex-items, ahead of consensus estimates of $0.27 per share. Revenues for the quarter rose 22% year-over-year to $6.0 billion, missing consensus estimates of $6.07 billion.
The Dow Jones Industrial Average (DJI) closed 0.01% higher at 12,381.11, the S&P500 (INX) closed 0.28% lower at 1,324.46, and the Nasdaq Composite (IXIC) closed 0.32% lower at 2,771.51.
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