U.S. stocks edged lower as investors shifted their focus back to concerns over corporate costs, economic growth and earnings from news that Osama bin Laden had been killed by U.S. forces. Netflix rose almost 2% on its upgrade at Citigroup but was unable to keep the broader tech sector above water. Yahoo reached a 52-week high of $18.35 after Greenlight Capital said it had taken a position in the online company. Implied volatility edged higher.
Tuesday, May 3, 2011
Slipped on economic concerns
U.S. stocks edged lower as investors shifted their focus back to concerns over corporate costs, economic growth and earnings from news that Osama bin Laden had been killed by U.S. forces. Netflix rose almost 2% on its upgrade at Citigroup but was unable to keep the broader tech sector above water. Yahoo reached a 52-week high of $18.35 after Greenlight Capital said it had taken a position in the online company. Implied volatility edged higher.
