
Stocks closed modestly higher, as a batch of better-than-expected U.S. economic data temporarily overshadowed concerns over Europe’s debt crisis. Retail sales climbed more than estimated in October, up 0.5%, the Federal Reserve Bank of New York’s index of economic activity edged upward — its first positive reading since May. Also, figures from the Labor Department had prices paid to wholesalers in October falling the most in four months, illustrating inflation backing off. Tech stocks put in a mostly upbeat performance, with Dell among the advancers as the PC giant was slated to give its quarterly results after the market close. Among tech stocks, IBM rose 0.75% a day after Berkshire Hathaway acquired a 5.4% share of IBM’s stock. Gains also came from Apple, Google, Hewlett-Packard and Broadcom. Microsoft also rose after its annual shareholders meeting. In the evening trade Dell was under pressure following a shortfall in its quarterly revenue, while Autodesk advanced following better-than-expected financial results. Implied volatility inched lower on light trading volumes.
NEAREST RESISTANCE LEVELS:
57.5,
58.0, 58.3,
59.1, 59.3NEAREST SUPPORT LEVELS: 57.3, 56.6, 56.3, 55.8,
53.0, 50.0