Stocks ended higher but tumbled for the week, with investors alert to any sign of policy makers acting further to bolster the global economy. Tech stocks mostly closed with gains, while Hewlett-Packard lost 2% as analysts focused on the enormous challenges faced by CEO Meg Whitman. Speaking in Washington at an international banking conference, Greek finance minister said Sunday that his country will do "whatever it takes" to meet its financial obligations. Investors worry that a Greek default will drag down other European economies struggling with weak growth as unsustainable levels of debt could quickly spread financial woes across borders and oceans. Also, this week investors will be giving hawk-like attention to the U.S. economy data or consumer spending, especially after the Federal Reserve's statement Wednesday noting "significant downside risks" to the economy. Implied volatility inched lower on light trading volumes.
Monday, September 26, 2011
Europe and the U.S. economic data in focus
Stocks ended higher but tumbled for the week, with investors alert to any sign of policy makers acting further to bolster the global economy. Tech stocks mostly closed with gains, while Hewlett-Packard lost 2% as analysts focused on the enormous challenges faced by CEO Meg Whitman. Speaking in Washington at an international banking conference, Greek finance minister said Sunday that his country will do "whatever it takes" to meet its financial obligations. Investors worry that a Greek default will drag down other European economies struggling with weak growth as unsustainable levels of debt could quickly spread financial woes across borders and oceans. Also, this week investors will be giving hawk-like attention to the U.S. economy data or consumer spending, especially after the Federal Reserve's statement Wednesday noting "significant downside risks" to the economy. Implied volatility inched lower on light trading volumes.
