Stocks climbed to best week since July as the group of finance ministers, including Timothy Geithner, was in talks about European debt crisis and comments from French and German leaders expressing confidence in Greece’s place in the euro-zone helped to drive the broader market higher. Tech stocks closed mostly in the green, meanwhile, losses by Research In Motion and Netflix dominated the sector’s attention. RIM fell almost 19%, following disappointing earnings report. Netflix extended losses, after the co. cut its U.S. subscriber estimates for the current quarter. This week investors will focus on the FOMC meeting as it spend two days mulling over what monetary policy levers to pull to give the U.S. economy a boost. Implied volatility inched lower on moderate trading volumes.
Monday, September 19, 2011
All eyes on the FOMC meeting
Stocks climbed to best week since July as the group of finance ministers, including Timothy Geithner, was in talks about European debt crisis and comments from French and German leaders expressing confidence in Greece’s place in the euro-zone helped to drive the broader market higher. Tech stocks closed mostly in the green, meanwhile, losses by Research In Motion and Netflix dominated the sector’s attention. RIM fell almost 19%, following disappointing earnings report. Netflix extended losses, after the co. cut its U.S. subscriber estimates for the current quarter. This week investors will focus on the FOMC meeting as it spend two days mulling over what monetary policy levers to pull to give the U.S. economy a boost. Implied volatility inched lower on moderate trading volumes.
