Stocks tumbled again after China reported stronger-than-expected fourth quarter GDP growth and a sharper-than-expected spike in inflation. Tighter policy in China would presumably slow the global economic rebound. EBAY jumped on stronger earnings. After the close, Google reported a big jump in revenue. Shares lost 4% in a "sell the news" reaction. Starbucks reported higher quarterly sales and stronger earnings and gained 2% after hours. QQQQ implied volatility inched higher.
Friday, January 22, 2010
Plunged on China jitters
Stocks tumbled again after China reported stronger-than-expected fourth quarter GDP growth and a sharper-than-expected spike in inflation. Tighter policy in China would presumably slow the global economic rebound. EBAY jumped on stronger earnings. After the close, Google reported a big jump in revenue. Shares lost 4% in a "sell the news" reaction. Starbucks reported higher quarterly sales and stronger earnings and gained 2% after hours. QQQQ implied volatility inched higher.
