Stocks finished mixed as investors braced for Friday’s monthly employment report. Applications for jobless benefits fell slightly last week to 422,000, above the 418,000 expected. Moody’s anticipates placing the U.S. government’s AAA credit rating under review for a possible downgrade if there is not any progress on hiking the U.S. statutory debt limit. Tech stocks put in mild gains, helped in part by modest advances from Apple and Dell, but the sector showed some signs of weakness. Microsoft lost 0.86% after the co. showed off a preview of its upcoming Windows 8 operating system. Brocade climbed 6.6% after Canaccord Genuity wrote in a research note that Dell should make more of a move into networking and that Brocade could be an acquisition target. Implied volatility inched lower on modest trading volumes.
Friday, June 3, 2011
Little changed in turbulent session
Stocks finished mixed as investors braced for Friday’s monthly employment report. Applications for jobless benefits fell slightly last week to 422,000, above the 418,000 expected. Moody’s anticipates placing the U.S. government’s AAA credit rating under review for a possible downgrade if there is not any progress on hiking the U.S. statutory debt limit. Tech stocks put in mild gains, helped in part by modest advances from Apple and Dell, but the sector showed some signs of weakness. Microsoft lost 0.86% after the co. showed off a preview of its upcoming Windows 8 operating system. Brocade climbed 6.6% after Canaccord Genuity wrote in a research note that Dell should make more of a move into networking and that Brocade could be an acquisition target. Implied volatility inched lower on modest trading volumes.
