Stocks rebounded after a narrowing of the U.S. trade gap offered hope the recovery might not be as weak as thought, as the lower-than-expected deficit may lead to a rise in second-quarter GDP estimates of up to 0.4%. Weekly initial jobless claims came in slightly above expectations, and marked the ninth straight week that the figure stayed above 400,000. Tech stocks also posted notable gains. Fusion-io saw its shares rise more than 18% after IPO. Hewlett-Packard added 0.3% after the co. said it would put a Wi-Fi version of its H-P TouchPad tablet on sale July 1. Research In Motion rose 2.4%, despite a ratings downgrade to hold from buy at Citigroup. Apple fell 0.23% after the co. showed off a proposed new campus that would hold up to 13,000 employees in the company’s headquarters of Cupertino. Implied volatility inched lower on very light trading volumes.
Friday, June 10, 2011
Rebounded on narrowed trade gap
Stocks rebounded after a narrowing of the U.S. trade gap offered hope the recovery might not be as weak as thought, as the lower-than-expected deficit may lead to a rise in second-quarter GDP estimates of up to 0.4%. Weekly initial jobless claims came in slightly above expectations, and marked the ninth straight week that the figure stayed above 400,000. Tech stocks also posted notable gains. Fusion-io saw its shares rise more than 18% after IPO. Hewlett-Packard added 0.3% after the co. said it would put a Wi-Fi version of its H-P TouchPad tablet on sale July 1. Research In Motion rose 2.4%, despite a ratings downgrade to hold from buy at Citigroup. Apple fell 0.23% after the co. showed off a proposed new campus that would hold up to 13,000 employees in the company’s headquarters of Cupertino. Implied volatility inched lower on very light trading volumes.
