Source: The Canadian Press

The Toronto stock market closed lower as disappointing earnings from aluminum giant Alcoa Inc. raised questions about the strength of the economic recovery, which in turn helped pressure commodity prices.

The S&P/TSX composite index closed down 47.14 points at 12,101.52 after Alcoa reported that adjusted earnings, which exclude one-time charges, as well as revenue missed expectations.

Oil closed down 29 cents to US$84.05 a barrel. The drop came amid a warning from the International Energy Agency that oil markets are “overheated’’ and called into question prices at current levels.

The Canadian dollar was up 0.14 of a cent at 99.81 cents US as the trade surplus with the rest of the world stood at $1.4 billion in February, up from $754 million in January.

New York’s Dow Jones industrial average closed up 13.45 points at 11,019.42.

The Nasdaq composite climbed 8.12 points to 2,465.99 while the S&P 500 index was ahead 0.82 of a point at 1,197.3.