Tech stocks fell after cautious outlooks from Qualcomm and Motorola. There is a sense that the market got a little ahead of itself. Weaker-than-expected economic readings on durable goods orders and unemployment were also in play. Later in the day, Fed Chairman Ben Bernanke was confirmed for a second term. After the close, Microsoft and Amazon reported higher quarterly sales and earnings that beat estimates. QQQQ implied volatility jumped in early trading but faded before the closing bell.
Friday, January 29, 2010
Finished in the red
Tech stocks fell after cautious outlooks from Qualcomm and Motorola. There is a sense that the market got a little ahead of itself. Weaker-than-expected economic readings on durable goods orders and unemployment were also in play. Later in the day, Fed Chairman Ben Bernanke was confirmed for a second term. After the close, Microsoft and Amazon reported higher quarterly sales and earnings that beat estimates. QQQQ implied volatility jumped in early trading but faded before the closing bell.
