Investors showed little reaction to weaker retail sales for December. Intel shares gained ahead of its results. Microsoft, IBM and Hewlett-Packard were the other big gainers. After the close, Intel announced strong earnings. Both earnings and sales beat estimates and marked a sharp improvement from the previous year. The stock gained 2% in extended-hours trading. Market breadth was positive. QQQQ's implied volatility little changed. It looks like the market needs more positive news to extend the rally.
Friday, January 15, 2010
Intel provided leadership
Investors showed little reaction to weaker retail sales for December. Intel shares gained ahead of its results. Microsoft, IBM and Hewlett-Packard were the other big gainers. After the close, Intel announced strong earnings. Both earnings and sales beat estimates and marked a sharp improvement from the previous year. The stock gained 2% in extended-hours trading. Market breadth was positive. QQQQ's implied volatility little changed. It looks like the market needs more positive news to extend the rally.
