Stocks closed with solid gains, as investors cheered a French proposal to help debt-riddled Greece and strength in the tech sector. Also, personal income rose 0.3% in May, that was slightly lower than the 0.4% forecasted, and follows a 0.4% rise in April, spending was unchanged in May. Tech stocks surged, lead by gains from Amazon.com and Microsoft. Microsoft is expected to announce a version of its Office software that is accessible via the Internet and added 3.7%. Amazon’s shares passed the $200 mark again after Morgan Stanley added the stock to its “Best Ideas” list and gained 4.5%. Cisco Systems managed to shrug off a broker downgrade in the morning hours, rising by 0.8%. After-hours Microsoft led gains among blue chips, rising 3.7% after the U.S. Supreme Court struck down a California law banning sales of violent videogames to minors. Implied volatility iched below the 20 level on light trading volumes.
Tuesday, June 28, 2011
Rallied on strength in tech sector
Stocks closed with solid gains, as investors cheered a French proposal to help debt-riddled Greece and strength in the tech sector. Also, personal income rose 0.3% in May, that was slightly lower than the 0.4% forecasted, and follows a 0.4% rise in April, spending was unchanged in May. Tech stocks surged, lead by gains from Amazon.com and Microsoft. Microsoft is expected to announce a version of its Office software that is accessible via the Internet and added 3.7%. Amazon’s shares passed the $200 mark again after Morgan Stanley added the stock to its “Best Ideas” list and gained 4.5%. Cisco Systems managed to shrug off a broker downgrade in the morning hours, rising by 0.8%. After-hours Microsoft led gains among blue chips, rising 3.7% after the U.S. Supreme Court struck down a California law banning sales of violent videogames to minors. Implied volatility iched below the 20 level on light trading volumes.
