July 8, 2009
U.S. markets make tentative gains
U.S. markets inched up Wednesday morning on a day in which Alcoa kicks off what is expected to be a disappointing corporate reporting season.
Alcoa reports its second quarter earnings after the closing bell Wednesday. With unemployment rising, expectations that corporations could squeeze a profit out of a struggling consumer base are sinking.
The benchmark 10-year U.S. Treasury bond rose 2/32 to yield 3.449 percent.
The euro fell to $1.3905, compared to Tuesday's $1.3913. Against the Japanese yen, the dollar fell to 94.28 yen, compared to Tuesday's 94.81 yen.
In Tokyo, the Nikkei average lost 227.04 points to 9,420.75, down 2.35 percent.