Stocks Rebound with Start of Corporate Earnings Season
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Hemera/Thinkstock(NEW YORK) — Stocks rebounded Monday with the start of the corporate earnings season.
Alcoa kicked off the U.S. earnings season after Monday’s closing bell, reporting first-quarter results that beat estimates. The big New York-based aluminum manufacturer says it expects seven-percent global growth this year.
The Dow Jones Industrial Average gained 48.23 points to close at 14,613.48. The Nasdaq Composite closed up 18.39 points, finishing the session at 3,222.25. The S&P 500 added 9.79 points and closed at 1,563.07.
Analysts expect consumer discretionary stocks, including store chains like Macy’s, to lead the growth in profits this earnings season.
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