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Stock Market Update - Tue Apr 10 15:00:01 EDT 2007

Tue Apr 10, 2007 3:00pm EDT

[BRIEFING.COM] Stocks continue to trade sideways around the unchanged mark as investors anxiously wait to get a better look at the earnings picture. It's no secret that slower economic growth and tougher comparisons after several strong years of earnings are likely to snap 14 straight quarters of double-digit profit growth for the S&P 500. However, the possibility that guidance may be extremely cautious is also stalling momentum ahead of Alcoa's (AA 35.08 +0.21) report tonight.

It is worth noting that if it weren't for a 1.6% advance in fellow Dow component Citigroup (C 52.41 +0.83), which currently accounts for more than six Dow points, the price-weighted index would still be in negative territory and in jeopardy of seeing a seven-day winning streak come to an end. Citigroup is trading higher amid reports of a possible major restructuring announcement.

NYSE Adv/Dec 1914/1331...Nasdaq Adv/Dec 1636/1358


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