Stocks rose, ending higher for a third day, as investors grew more optimistic about Europe's debt crisis being resolved. nBut the advance lost momentum in the final hour of trading after a report in the Financial Times raised questions about a proposed second bailout for Greece. The plan to avert a Greek default faces a key vote Tuesday. Meanwhile, mounting debt could weigh on banks throughout Europe well into 2012. Tech stocks joined a broader market rally. Hewlett-Packard gained 3.9%, IBM rose 1.8%, Intel added 1.4%. Research In Motion jumped 4.5% on a report from Reuters the investor Carl Icahn had acquired a stake in the BlackBerry manufacturer. Other sector notables also posting gains included Oracle, Google and Dell. Apple slipped nearly 1% a day after speculation that it may be scaling back iPad production. Also on the downside, Amazon fell 2.5% ahead of widely expected introduction of its tablet product on Wednesday. Implied volatility inched lower on moderate volumes.
Wednesday, September 28, 2011
Rose for a third day
Stocks rose, ending higher for a third day, as investors grew more optimistic about Europe's debt crisis being resolved. nBut the advance lost momentum in the final hour of trading after a report in the Financial Times raised questions about a proposed second bailout for Greece. The plan to avert a Greek default faces a key vote Tuesday. Meanwhile, mounting debt could weigh on banks throughout Europe well into 2012. Tech stocks joined a broader market rally. Hewlett-Packard gained 3.9%, IBM rose 1.8%, Intel added 1.4%. Research In Motion jumped 4.5% on a report from Reuters the investor Carl Icahn had acquired a stake in the BlackBerry manufacturer. Other sector notables also posting gains included Oracle, Google and Dell. Apple slipped nearly 1% a day after speculation that it may be scaling back iPad production. Also on the downside, Amazon fell 2.5% ahead of widely expected introduction of its tablet product on Wednesday. Implied volatility inched lower on moderate volumes.
