If you look through some explanations of why the Dow Jones Industrials (DJINDICES: ^DJI ) failed to set a new record today, you'll find a common theme: Investors are worried about a potential correction. Yet the problem with that hypothesis is that investors have been worried about a correction for months now, if not years, and the market hasn't hesitated to climb higher regardless. With a decline of just 19 points for the Dow and similarly insignificant declines for the broader market, reading too much into the day's activity will lead you to false conclusions about what in reality isn't any change in sentiment among investors.
Moreover, focusing too much on pessimistic sentiment will distract you from pockets of optimism within certain sectors. For instance, Alcoa (NYSE: AA ) climbed 1.7% today as investors continued to applaud the company's decision last week to shut down two of its Canadian production lines and to delay the construction of a new line for at least six years. With aluminum prices remaining stubbornly weak, Alcoa's move at the Baie-Comeau smelter in Quebec represents the latest in a series of strategic decisions designed to reduce overall supply and support long-term price increases for the metal. Even though it will take time for conditions to improve, Alcoa has demonstrated its willingness to make tough decisions in order to put itself in the best position to benefit from favorable long-term trends toward greater future use of aluminum.
Top Canadian Stocks To Watch Right Now: Fisher Communications Inc.(FSCI)
Fisher Communications, Inc., an integrated media company, through its subsidiaries, engages in television and radio broadcasting businesses. The company owns and operates network-affiliated television stations in Washington, Oregon, Idaho, and California, as well as engages in Internet business; and radio stations and managed radio stations in Washington and Montana. It also owns and operates Fisher Plaza, a commercial building that includes a data center designed to enable companies to distribute analog and digital media content through various distribution channels, including broadcast, satellite, cable, Internet, broadband, and other wired and wireless communication systems, as well as houses various companies, including media and communications companies. The company owns and operates 13 full power television stations, 7 low power television stations, and 10 owned and managed radio stations in the Western United States. Its television stations reach 4.2 million househo lds. The company was formerly known as Fisher Companies, Inc. and changed its name in March 2001. Fisher Communications, Inc. was founded in 1910 and is based in Seattle, Washington.
Top Canadian Stocks To Watch Right Now: EURASIAN NATURAL RESOURCES CORP ORD USD0.20 WI(ENRC.L)
Eurasian Natural Resources Corporation PLC, a diversified natural resources group, engages in mining, processing, energy, logistics, and marketing operations worldwide. The company operates through six segments: Ferroalloys, Iron Ore, Alumina and Aluminium, Other Nonferrous, Energy, and Logistics. The Ferroalloys segment involves in the extraction and sale of chrome ore, as well as the production of ferroalloys from chromium and manganese ores. It offers high-, medium-, and low-carbon ferrochrome; and other alloys, including ferrosilicochrome, ferrosilicomanganese, and ferrosilicon, as well as chrome and manganese concentrate. This segment sells its ferroalloys to steel producers, third party ferroalloy producers, and the chemical industries. The Iron Ore segment engages in the exploration, extraction, processing, and manufacturing of iron ore products. It produces and sells iron ore concentrate and pellets primarily to steel producers. This segment also engages in ancilla ry mining operations that produce limestone, dolomite, and construction gravel. The Alumina and Aluminium segment involves in the extraction and processing of bauxite and limestone; and the smelting of alumina and aluminum. It sells alumina to aluminum producers. The Other Nonferrous segment engages in the exploration and extraction, processing, and manufacturing of copper and cobalt products; trucking and logistics activities; and the exploration of other minerals, including coal, bauxite, platinum, and fluorspar in Africa. The Energy segment involves in coal mining and power generation in the Republic of Kazakhstan. The Logistics segment provides transportation and logistic services. Its operations include freight forwarding, wagon repair services, and railway construction and repair services, as well as a railway transfer and reloading terminal on the Kazakhstan-China border. Eurasian Natural Resources Corporation PLC is based in London, the United Kingdom.
Top Stocks To Invest In 2014: Carpetright(CPR.L)
Carpetright plc, together with its subsidiaries, engages in the retail sale of floor coverings. It sells a range of carpets, rugs, vinyls, laminates, and associated accessories, as well as beds. The company also sells its products through online. It operates 679 stores in the United Kingdom and the Republic of Ireland, as well as in the Netherlands and Belgium. The company was founded in 1988 and is based in Purfleet, the United Kingdom.