U.S. stocks higher on Alcoa’s surprise

MARKETWATCH FRONT PAGE

U.S. stocks are sharply higher, bouncing back after a five-session losing run, with aluminum maker Alcoa�s unexpected profit cheering investors. See full story.

Dollar gives back gains ahead of Beige Book

The dollar�s reversing some of the prior session�s moves as stocks recover and Spanish debt yields fall. See full story.

Treasurys fall for first day in six

Treasury prices decline, giving back some of Tuesday�s rally and pushing yields back to levels not seen in more than a month. See full story.

Europe stocks rally as banks rise, yields ease

European stock markets rally on Wednesday as banks rise after a sector upgrade, while bond yields in Italy and Spain come off recent highs. See full story.

Huge quake triggers Indian Ocean tsunami alert

Coastal territories surrounding the Indian Ocean basin were on tsunami alert Wednesday after a powerful earthquake struck off the west coast of Indonesia at mid-afternoon. See full story.

MARKETWATCH COMMENTARY

Instead of acknowledging that banks have become a part of government, we keep pretending they are private institutions, writes David Weidner. See full story.

MARKETWATCH PERSONAL FINANCE

Is the state that you have designs on retiring to tax friendly or not? And the basic questions to answer are these: How does the state tax your income? How does it tax your property and your consumption? And what�s the overall tax burden? See full story.