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Business News

US Stocks fell in a broad sell-off yesterday, dropping for a second straight session and driving the Dow back down below 17,000 as investors turned cautious ahead of earnings season.

Alcoa, whose earnings report always kicks off earnings season, saw a 2nd quarter profit that topped Wall St. expectations.  Alcoa's stock has surged in 2014 as aluminum prices have stabilized.  Shares of Alcoa rose 2.5% on that news against a very weak tape.(

Small Business optimism dropped in June on a big decline in business owners who had previously expected the economy to improve.  The small business optimism index fell 1.6 points in June with 8 of the 10 components that make up the index falling.(yahoo finance)

China's consumer inflation moderated slightly in June.  Consumer prices in China rose 2.3% from the same period last year which was in-line with expectations.  Chinese stocks fell 1.5% on that news.(

As Detroit struggles to climb out of bankruptcy another Michigan city, Flint the birthplace of General Motors, may need to file for bankruptcy.  If a judge doesn't allow Flint to cut benefits to retiree's the city will be forced to file for bankruptcy protection.(

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