Stocks closed higher Friday, moderating losses for a week of violent swings, following a rally in European stocks and encouraging retail sales data. Investors hope earnings reports from two tech bellwethers (Dell and H-P), plus reports on jobs, housing and manufacturing, will provide a sense of stability in the coming week. Strong gains for Hewlett-Packard helped tech stocks maintain positive gains by the close on Friday, as the sector shook off some earlier weakness on another volatile trading day. Hewlett-Packard rose about 3.7% after Jefferies & Co. upgraded it to a buy rating. However, one notable turn was Nvidia which opened the session with strong gains following a positive earnings report, but several analysts urged caution on the shares, noting that the company still faces strong competition that may crimp growth in future periods. Nvidia’s weakness hurt Intel, Micron and SanDisk and other chip stocks.
Monday, August 15, 2011
Volatile week ahead
Stocks closed higher Friday, moderating losses for a week of violent swings, following a rally in European stocks and encouraging retail sales data. Investors hope earnings reports from two tech bellwethers (Dell and H-P), plus reports on jobs, housing and manufacturing, will provide a sense of stability in the coming week. Strong gains for Hewlett-Packard helped tech stocks maintain positive gains by the close on Friday, as the sector shook off some earlier weakness on another volatile trading day. Hewlett-Packard rose about 3.7% after Jefferies & Co. upgraded it to a buy rating. However, one notable turn was Nvidia which opened the session with strong gains following a positive earnings report, but several analysts urged caution on the shares, noting that the company still faces strong competition that may crimp growth in future periods. Nvidia’s weakness hurt Intel, Micron and SanDisk and other chip stocks.
