A slump among energy and material stocks dragged down the broad market as investors headed for the safety of bonds and telecommunications companies. This move helped blue-chips to eke out tiny gain. Small gains came from Apple, IBM and Dell. MetroPCS Communications put in one of the day’s strongest performances, rising more than 10%, after the co. reported upbeat quarterly earnings and said it added almost 726,000 users during its fiscal first quarter. MasterCard shares set a near three-year high, helping upbeat earning results. Implied volatility little changed on modest trading volumes.
Wednesday, May 4, 2011
Showing weakness
A slump among energy and material stocks dragged down the broad market as investors headed for the safety of bonds and telecommunications companies. This move helped blue-chips to eke out tiny gain. Small gains came from Apple, IBM and Dell. MetroPCS Communications put in one of the day’s strongest performances, rising more than 10%, after the co. reported upbeat quarterly earnings and said it added almost 726,000 users during its fiscal first quarter. MasterCard shares set a near three-year high, helping upbeat earning results. Implied volatility little changed on modest trading volumes.
