Stocks jumped, as investors welcomed the latest plan to recapitalize European banks. But a broad rally lost steam during the final minutes of trading. European Commission president J.M. Barroso said that policymakers need to act immediately to resolve the long-running crisis, and banks that do not satisfy capital requirements should be barred from paying out dividends and bonuses. Tech stocks mostly closed with gains. Apple rose 0.5% as the co. rolled the latest version of its mobile operating system. Also, analysts speculates that a lower-priced ‘iPad mini’ is coming. On the downside, Research In Motion fell 2.2% on reports of more disruptions in its BlackBerry message service. Brocade Communications dropped 7.6% after J.P. Morgan downgraded it to underweight from neutral, citing “muted long-term growth prospects.” Implied volatility inched below the 30 level on moderate trading volumes.
Thursday, October 13, 2011
Rose on hopes for Europe
Stocks jumped, as investors welcomed the latest plan to recapitalize European banks. But a broad rally lost steam during the final minutes of trading. European Commission president J.M. Barroso said that policymakers need to act immediately to resolve the long-running crisis, and banks that do not satisfy capital requirements should be barred from paying out dividends and bonuses. Tech stocks mostly closed with gains. Apple rose 0.5% as the co. rolled the latest version of its mobile operating system. Also, analysts speculates that a lower-priced ‘iPad mini’ is coming. On the downside, Research In Motion fell 2.2% on reports of more disruptions in its BlackBerry message service. Brocade Communications dropped 7.6% after J.P. Morgan downgraded it to underweight from neutral, citing “muted long-term growth prospects.” Implied volatility inched below the 30 level on moderate trading volumes.
