Stocks climbed on relief that damage from Hurricane Irene wasn’t more severe and that Fed Chairman Ben Bernanke did not see an immediate need for a third round of quantitative easing. Also, a Greek bank deal, a solid U.S. consumer spending report helped the market. The tech sector rose led by the broader market enthusiasm. Gains came from Apple, Google, Oracle, Cisco and Qualcomm. Intel edged up 2.7% as FBR Capital Markets analyst maintained its market perform, or neutral, rating. Implied volatility inched lower on modest trading volumes.
Tuesday, August 30, 2011
Started week with strong gains
Stocks climbed on relief that damage from Hurricane Irene wasn’t more severe and that Fed Chairman Ben Bernanke did not see an immediate need for a third round of quantitative easing. Also, a Greek bank deal, a solid U.S. consumer spending report helped the market. The tech sector rose led by the broader market enthusiasm. Gains came from Apple, Google, Oracle, Cisco and Qualcomm. Intel edged up 2.7% as FBR Capital Markets analyst maintained its market perform, or neutral, rating. Implied volatility inched lower on modest trading volumes.
