Dow Jones Back Below 13,000 Just One Month After Surpassing the Mark

April 9, 2012 4:45 PM EDT
Well, that was quick.

With Monday's 130 point dip on the Dow Jones Industrial Average (NYSE: DIA), the index closed below 13,000 for the first time since March 12th. Prior to that date, the Dow had not been over the level for several years.

The downside follows concerning nonfarm payroll numbers on Friday and, earlier in the week, suggestions from the Fed that further quantitative easing could soon be off the table.

Also shaping traders decisions this week, Alcoa (NYSE: AA) will report numbers for the first quarter of 2012 on Tuesday, unofficially kicking-off the most recent earnings season. Over the last six quarters, Alcoa has missed EPS estimates by an average of 21 percent. Things do not seem to be shaping up much better for the last three months amid reduced production efforts reported throughout the quarter.

The Dow closed at about 12,929, the Nasdaq (Nasdaq: QQQ)(Nasdaq: NDAQ) ended the session down 33 to 3,047 and S&P 500 (NYSE: SPY) was off 16 points to 1,382.20.

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