Stocks rose for a fourth consecutive session as optimism about financial help ahead for Greece offset earlier pressure from a disappointing economic data. Home prices fell 4.2% in the first quarter, the lowest levels since the housing bubble burst. Consumer sentiment index declined to 60.8 in May, from 65.4 in April, economists expected it to rise to 66.3. Tech stocks closed mostly with gains. Apple jumped 3% after the co. said that CEO Steve Jobs will introduce the iCloud service during the Worldwide Developers Conference keynote on June 6. Nokia tumbled 14%, after warning that the second quarter and full-year outlook will be weaker than previously expected. Intel added 1.35% after announcement of a new line of mobile devices and Intel-powered tablets at the Computex trade show. In after-hours trading Yahoo soared 3.3% as Reuters reported that Yahoo and Alibaba have reached an agreement over the business. Implied volatility plunged to the 14.4 level on huge trading volumes.
Wednesday, June 1, 2011
Gained on global economic news
Stocks rose for a fourth consecutive session as optimism about financial help ahead for Greece offset earlier pressure from a disappointing economic data. Home prices fell 4.2% in the first quarter, the lowest levels since the housing bubble burst. Consumer sentiment index declined to 60.8 in May, from 65.4 in April, economists expected it to rise to 66.3. Tech stocks closed mostly with gains. Apple jumped 3% after the co. said that CEO Steve Jobs will introduce the iCloud service during the Worldwide Developers Conference keynote on June 6. Nokia tumbled 14%, after warning that the second quarter and full-year outlook will be weaker than previously expected. Intel added 1.35% after announcement of a new line of mobile devices and Intel-powered tablets at the Computex trade show. In after-hours trading Yahoo soared 3.3% as Reuters reported that Yahoo and Alibaba have reached an agreement over the business. Implied volatility plunged to the 14.4 level on huge trading volumes.
