Alcoa, CSX beat expectations; Trade deficit up; treasury auctions later - Daliy Rate Update for July 13th, 2010
When two companies that are a backbone to other corporate activity both report better-than-expected profits and revenues, you can bet that the rest of corporate America is probably doing pretty well, too. Well Alcoa, a manufacturer of aluminum, and CSX, a transporter of just about everything, both beat expectations, and this suggests that they may not be alone.
The trade deficit is worse than expected, and we'll find out exactly how traders feel about the situation at 1:00 this afternoon when the results of the 10-year treasury auction are announced. To see my full commentary for the day, please visit the economic updates section of the all new http://provincemai.com.
Dan Hartman is a Senior Mortgage Advisor with Province Mortgage Associates, and serves as an Adjunct Professor of Finance and Economics at Roger Williams University and the University of New Haven. He has been helping homeowners and homebuyers with their mortgage questions for over 10 years.
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