Alcoa earnings will be a glimpse into industrial slowdown
Alcoa to report after the closing bell today
Alcoa is a bellwether for industrial demand and global growth.
Earnings are expected at a loss per share of 21-cents but sales of $2.47B are a better barometer on the economy. Even more important will be the outlook for 2020. In October they forecast global demand down 0.4-0.6% for 2019 but CEO Roy Harvey said he saw demand 'springing back' this year because the "underlying trends continue to be very strong".
At the time he said the global economy "will come roaring back once this uncertainty is behind us."
That's going to be a tough level of optimism to sustain.