Investors mulled mixed reports on inflation and manufacturing and opted to step back. The first day of the Federal Reserve's two-day policy meeting was also in focus. BBY reported better-than-expected quarterly profit before the start of trading. The electronics retailer also lifted its current-quarter revenue and earnings forecast. QQQQ implied volatility little changed. This push and pull is likely to keep stocks pretty rangebound for the time being.
Wednesday, December 16, 2009
Staying in trading range
Investors mulled mixed reports on inflation and manufacturing and opted to step back. The first day of the Federal Reserve's two-day policy meeting was also in focus. BBY reported better-than-expected quarterly profit before the start of trading. The electronics retailer also lifted its current-quarter revenue and earnings forecast. QQQQ implied volatility little changed. This push and pull is likely to keep stocks pretty rangebound for the time being.
