Stocks lost steam and erased most of the gains, as investors turned cautious amid the uncertainty surrounding Greece’s debt issues and ahead of the Fed’s interest rate decision. Tech sector edged higher despite slumping shares of Netflix and Xilinx. Apple moved up 0.4%, after trading up to a new all-time high of $422.86. After the bell Adobe and Oracle advanced after reporting better-than-expected quarterly results and issuing solid forecasts. Microsoft picked up 0.2% after raising its quarterly dividend, the co. also said it will continue buying back shares in its $40 bln repurchase program in which $12.2 billion in buy-back authority remains. Implied volatility inched lower on moderate volumes.
Wednesday, September 21, 2011
Closed in the red ahead of Fed
Stocks lost steam and erased most of the gains, as investors turned cautious amid the uncertainty surrounding Greece’s debt issues and ahead of the Fed’s interest rate decision. Tech sector edged higher despite slumping shares of Netflix and Xilinx. Apple moved up 0.4%, after trading up to a new all-time high of $422.86. After the bell Adobe and Oracle advanced after reporting better-than-expected quarterly results and issuing solid forecasts. Microsoft picked up 0.2% after raising its quarterly dividend, the co. also said it will continue buying back shares in its $40 bln repurchase program in which $12.2 billion in buy-back authority remains. Implied volatility inched lower on moderate volumes.
