Third Quarter Reports

Alcoa is the first major corporation to report 3rd quarter results and those profits appear to have underwhelmed even though they are significantly greater than one year ago.

This does not bode well and may even suggest that fear more than something actually tangible is driving the market.

Reuters: Alcoa profit hurt by slowdown, recession fears

The third-quarter profit jumped from a year ago, but was lower than the second quarter and fell short of Wall Street expectations...