Alcoa Announces $200 Million Buyback - Adviser Investments

Alcoa Announces $200 Million Buyback

Adviser Investments’ Chief Investment Officer Jim Lowell has the market analysis for Wednesday, October 17. Major U.S. stock indexes declined slightly today as investors reacted to the release of last month’s Federal Open Market Committee session minutes. The Dow Jones Industrial Average lost 0.4% and both the S&P 500 and NASDAQ fell fractionally. Most notably, the minutes point to the likelihood of a December interest-rate hike. Meanwhile, Alcoa gained 5% after surpassing both earnings and revenue expectations. The Company also announced a $200 million stock buyback—its first since 2007.

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