Stocks advanced with no major economic reports or major corporate developments. The Federal Reserve Bank of Chicago’s national activity index improved in July, going to negative 0.06 from negative 0.38 in June. As a result, stocks traded in a wide range as investors anticipated events later in the week. Hewlett-Packard jumped as the tech sector edged higher. Other major tech issues posted solid gains. Among few tech decliners were Microsoft and Cisco Systems Late-traded Goldman was off 0.8%, after a Reuters report that Chief Executive Lloyd Blankfein has hired high-profile Washington defense attorney Reid Weingarten. Implied volatility inched lower on moderate trading volumes.
Tuesday, August 23, 2011
Managed to post gains
Stocks advanced with no major economic reports or major corporate developments. The Federal Reserve Bank of Chicago’s national activity index improved in July, going to negative 0.06 from negative 0.38 in June. As a result, stocks traded in a wide range as investors anticipated events later in the week. Hewlett-Packard jumped as the tech sector edged higher. Other major tech issues posted solid gains. Among few tech decliners were Microsoft and Cisco Systems Late-traded Goldman was off 0.8%, after a Reuters report that Chief Executive Lloyd Blankfein has hired high-profile Washington defense attorney Reid Weingarten. Implied volatility inched lower on moderate trading volumes.
