US-Aluminum index rallies after Alcoa CEO comments

The Dow Jones U.S. Aluminum index rallied on Tuesday, after Alcoa's chief executive officer gave some positive comments. Klaus Kleinfeld, chief executive of the U.S. industry leader, told Bloomberg Television he was "very optimistic" on sales as the Chinese economy and some U.S. industries start to recover. "China is clearly out of the woods," Kleinfeld said in the interview in Moscow, where he and other U.S. executives were traveling with President Barack Obama. "Its economy has come back and is growing again." For details, see The index gained 4.5 percent to 78.61 while Alcoa, a Dow component, added 4.1 percent to $9.64. Among other aluminum companies, Kaiser Aluminum slid 0.8 percent to $31.25 and Century Aluminum climbed 4.8 percent to $5.47. Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 1443 ET 07July2009-S&P Equity Research ups banking sector outlook ------------------------------------------------------------------------------ S&P Equity Research on Tuesday upgraded the investment banking and brokerage sub-industry outlook to "neutral" from "negative," writing that the companies in the group "are in an improved position at this point in the economic cycle." "Following write-downs and losses, asset sales, industry consolidation and capital raises, we see less risk on the balance sheets of these firms. We also believe an uptick in equity and debt underwriting and trading results will help to offset a continued lull in demand for merger and acquisition advice," it added. Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 1419 ET 07July2009-Bespoke: earnings off seasons better for markets ------------------------------------------------------------------------------ Bespoke Investment Group on Tuesday wrote that while the market performed "very well" during the last earnings season, "historically the earnings off season has been better for the overall market." Since October 2002 (the start of the last bull market), a $100 investment in the S&P 500 only during earnings seasons would now be worth $96.84," the firm wrote, adding that a $100 investment in the S&P only in the off-season would be worth $115.66 today. "The average change for the index during these earnings seasons has been just +0.01 percent with gains 55 percent of the time," Bespoke added. "The average change for the index during off seasons has been 0.75 percent since October 2002 with gains 70 percent of the time." Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 1410 ET 07July2009-Greenbrier stock off, GE to take fewer deliveries ------------------------------------------------------------------------------ Shares of Greenbrier Cos Inc tumbled on Tuesday, after the company reported its third-quarter results and said that key customer General Electric had begun taking fewer railcar deliveries. The company also said it would furlough 550 more workers as it stops production at a facility in Mexico. For details, see Shares of Greenbrier dropped 6.1 percent to $6.50 while shares of GE, a Dow component, were down 1.8 percent to $11.27. Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 1405 ET 07July2009-Markets fall as talk of 2nd stimulus stoke fears ------------------------------------------------------------------------------ U.S. stock indexes fell on Tuesday, as talk of a second government stimulus plan stirred fears that the economy is far from well, raising the specter of an anemic second quarter earnings season. For details, see The Dow Jones industrial average fell 1 percent to 8,241.74 while the S&P 500 lost 1 percent to 889.88 and the Nasdaq was off 1.3 percent to 1,765.15. Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net Keywords: MARKETS STOCKSNEWS COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.