Alcoa (AA) NewsBite - AA Rises Ahead of Fed Interest Rate Announcement

Alcoa (NYSE: AA) opened at $12.99. So far today, the stock has hit a low of $12.92 and a high of $13.08. AA is now trading at $12.97, up $0.35 (2.77%). Over the last 52 weeks the stock has ranged from a low of $4.97 to a high of $15.11. AA shares are on the move with the rest of the market this morning ahead of the Federal Reserve's announcement on interest rates, expected this afternoon. Analysts are expecting the central bank to leave its benchmark rate near zero, and market-watchers are anxiously awaiting the Fed's comments on the recent GDP report. Technical indicators for the stock are bullish and S&P gives AA a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on AA the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 11 range.

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