Markets dropped sharply Friday on rumors about a possible Greek default. Whether or not something happens in Greece will largely rule market sentiment as the market opens. Also, President Barack Obama’s jobs plan and the resignation of a European Central Bank Governing Council member weighed on the markets. Tech stocks fell after Texas Instruments’s warning of weakness in demand spooked the broader market. But TI moved up 1.1% as analysts continued to see the co. as being well-positioned in an uncertain market, particularly with its heightened focus on its analog chip business. Other chip makers were also in positive territory. Highlighting the tech retreat was VeriSign, which tumbled 14.4% after its Chief Financial Officer Brian Robins had resigned. Yahoo 0.3% on rumors that Yahoo’s independent directors have set up a “strategy and transactions” committee led by board member David Kenny. Implied volatility surged to the 35 level on moderate trading volumes. This week all eyes will be on Greece and batch of economic and corporate data, including inflation.
Monday, September 12, 2011
All eyes on inflation and Greece
Markets dropped sharply Friday on rumors about a possible Greek default. Whether or not something happens in Greece will largely rule market sentiment as the market opens. Also, President Barack Obama’s jobs plan and the resignation of a European Central Bank Governing Council member weighed on the markets. Tech stocks fell after Texas Instruments’s warning of weakness in demand spooked the broader market. But TI moved up 1.1% as analysts continued to see the co. as being well-positioned in an uncertain market, particularly with its heightened focus on its analog chip business. Other chip makers were also in positive territory. Highlighting the tech retreat was VeriSign, which tumbled 14.4% after its Chief Financial Officer Brian Robins had resigned. Yahoo 0.3% on rumors that Yahoo’s independent directors have set up a “strategy and transactions” committee led by board member David Kenny. Implied volatility surged to the 35 level on moderate trading volumes. This week all eyes will be on Greece and batch of economic and corporate data, including inflation.
