Market surged higher behind solid earnings results from technology sector and a bigger-than-expected rise in existing-home sales. Energy sector secured a 2.2% gain, helped by a spike in oil prices, which settled at $111.45 per barrel. Tech sector was boosted by tech bellwethers’ solid results. Intel spiked nearly 8%, Yahoo rose 4.7%, while IBM edged down 0.4% after earnings. After hours Apple posted a 95% surge in earnings, issued strong guidance and added 3.4%. Qualcomm also reported upbeat results. Implied volatility inched lower on huge trading volumes.
Thursday, April 21, 2011
Surged on tech results
Market surged higher behind solid earnings results from technology sector and a bigger-than-expected rise in existing-home sales. Energy sector secured a 2.2% gain, helped by a spike in oil prices, which settled at $111.45 per barrel. Tech sector was boosted by tech bellwethers’ solid results. Intel spiked nearly 8%, Yahoo rose 4.7%, while IBM edged down 0.4% after earnings. After hours Apple posted a 95% surge in earnings, issued strong guidance and added 3.4%. Qualcomm also reported upbeat results. Implied volatility inched lower on huge trading volumes.
