Stocks closed mixed, with the S&P 500 finishing in the red after disappointing earnings from J.P. Morgan Chase. Banks led the decline. Meanwhile, tech stocks posted gains on advance in chip companies, AOL and ahead of results from Google after the close. RIM slid more than 1% as company co-Chief Executive Mike Lazaridis apologized to customers for the disruption of BlackBerry services, even as the company announced that service has been “fully restored”. Among economic news, Slovakia became the final euro area country to ratify overhauling the European Financial Stability Facility (EFSF). Also, jobless claims fell 1,000 to 404,000 (vs. 406,000 expected), continuing claims slipped to 3.67 million, slightly below estimates for 3.7 million. In the evening trade Google soared 6.3% following the upbeat earnings of $9.72 a share (vs. $8.74 a share estimated). Implied volatility stepped down to the 27 level in light trading.
Friday, October 14, 2011
Closed mixed on weakness in banks
Stocks closed mixed, with the S&P 500 finishing in the red after disappointing earnings from J.P. Morgan Chase. Banks led the decline. Meanwhile, tech stocks posted gains on advance in chip companies, AOL and ahead of results from Google after the close. RIM slid more than 1% as company co-Chief Executive Mike Lazaridis apologized to customers for the disruption of BlackBerry services, even as the company announced that service has been “fully restored”. Among economic news, Slovakia became the final euro area country to ratify overhauling the European Financial Stability Facility (EFSF). Also, jobless claims fell 1,000 to 404,000 (vs. 406,000 expected), continuing claims slipped to 3.67 million, slightly below estimates for 3.7 million. In the evening trade Google soared 6.3% following the upbeat earnings of $9.72 a share (vs. $8.74 a share estimated). Implied volatility stepped down to the 27 level in light trading.
