Stocks ended at their lowest in more than a month, after latest data failed to dispel fears about economy slowdown. April new home sales improved to an annualized rate of 323,000 units from a pace of 301,000 units in March, but failed to drag the market. Oil stock outperformaed the market after Morgan Stanley and Goldman Sachs raised their outlooks on oil and offered a positive outlook for commodities. The performance was mixed among tech-sector leaders. Mild gains came from Nvidia, Seagate and Hewlett-Packard. Yandex debuted on the Nasdaq after going public late Monday and jumped 55% from its IPO price. After-hours Applied Materials slid 2% following weak earnings forecast. Implied volatility inched lower again on light trading volumes.
Wednesday, May 25, 2011
Slipped on recovery fears
Stocks ended at their lowest in more than a month, after latest data failed to dispel fears about economy slowdown. April new home sales improved to an annualized rate of 323,000 units from a pace of 301,000 units in March, but failed to drag the market. Oil stock outperformaed the market after Morgan Stanley and Goldman Sachs raised their outlooks on oil and offered a positive outlook for commodities. The performance was mixed among tech-sector leaders. Mild gains came from Nvidia, Seagate and Hewlett-Packard. Yandex debuted on the Nasdaq after going public late Monday and jumped 55% from its IPO price. After-hours Applied Materials slid 2% following weak earnings forecast. Implied volatility inched lower again on light trading volumes.
