The day started with an early rally fueled by hopes of a resolution to the debt standoff. But a weak manufacturing report quickly deflated that optimism. Tech stocks also ended weaker. Among tech stocks, gains came from Apple, Google and LinkedIn. Nvidia climbed more than 5% following reports of market-share gains by the graphics chip maker. Implied volatility inched lower to the 22.5 level on huge volumes.
Tuesday, August 2, 2011
Little changed in volatile session
The day started with an early rally fueled by hopes of a resolution to the debt standoff. But a weak manufacturing report quickly deflated that optimism. Tech stocks also ended weaker. Among tech stocks, gains came from Apple, Google and LinkedIn. Nvidia climbed more than 5% following reports of market-share gains by the graphics chip maker. Implied volatility inched lower to the 22.5 level on huge volumes.
