Stocks finished a choppy session higher, as investors pinned their hopes on a report that China is in talks with Italy to buy the cash-strapped country's debt. If China indeed comes to the rescue of debt-ridden Italy, it would be a welcome sign of improving stability in the ongoing European debt crisis. Tech stocks posted the best gains, boosted by a 50% surge in shares of Netlogic after Broadcom agreed to buy the semiconductor company for $3.7 billion. Intel was the best performer on the Dow, gaining almost 3%, while Micron and eBay were among the biggest gainers in the S&P 500 and Nasdaq. Implied volatility inched higher on modest trading volumes.
Tuesday, September 13, 2011
Closed with solid gains
Stocks finished a choppy session higher, as investors pinned their hopes on a report that China is in talks with Italy to buy the cash-strapped country's debt. If China indeed comes to the rescue of debt-ridden Italy, it would be a welcome sign of improving stability in the ongoing European debt crisis. Tech stocks posted the best gains, boosted by a 50% surge in shares of Netlogic after Broadcom agreed to buy the semiconductor company for $3.7 billion. Intel was the best performer on the Dow, gaining almost 3%, while Micron and eBay were among the biggest gainers in the S&P 500 and Nasdaq. Implied volatility inched higher on modest trading volumes.
