Stocks ended sharply higher following a choppy start, after investors were calmed by European leaders insisting that Greece would remain a eurozone member and would achieve its fiscal targets. Also, PPI was unchanged in August, which was in line with expectations, retail sales were flat in August, following a 0.3% rise the previous month. Tech sector extended its winning streak for the week to three straight sessions. Dell extended gains after the co. said late Tuesday that its board of directors authorized an additional $5 billion buy-back plan. Gains also came from Nvidia, Oracle, Apple and Micron. Cisco gave up a little as analysts were seen as optimistic about Cisco’s new, aggressive stance following a meeting with company officials on Tuesday. Implied volatility inched lower on moderate trading volumes.
Thursday, September 15, 2011
Rallied on hopes for Greece
Stocks ended sharply higher following a choppy start, after investors were calmed by European leaders insisting that Greece would remain a eurozone member and would achieve its fiscal targets. Also, PPI was unchanged in August, which was in line with expectations, retail sales were flat in August, following a 0.3% rise the previous month. Tech sector extended its winning streak for the week to three straight sessions. Dell extended gains after the co. said late Tuesday that its board of directors authorized an additional $5 billion buy-back plan. Gains also came from Nvidia, Oracle, Apple and Micron. Cisco gave up a little as analysts were seen as optimistic about Cisco’s new, aggressive stance following a meeting with company officials on Tuesday. Implied volatility inched lower on moderate trading volumes.
