Stocks rose as a gauge of leading indicators climbed, boosting views of the U.S. economy. Tech stocks closed in the red amid weakness in software stocks with Salesforce led the decline. The reported a third-quarter loss, but still managed to top the estimates, and gave up more than 10%. Along with Salesforce, other software companies also retreated, with losses coming from Oracle, Microsoft and VMware. Meanwhile Marvell climbed 6.5% a day after the co. reported a decline in its third-quarter income, but results surpassed estimates. Hewlett-Packard rose 2.6% ahead of its scheduled release of quarterly results on Monday. This week investors will likely to focus on European and U.S. debt developments, Spanish elections, reported failure to reach a U.S. deficit-reduction deal, and several data releases before the Thanksgiving holiday weekend. Implied volatility inched lower on massive trading volumes.
Monday, November 21, 2011
Focus on debt developments
Stocks rose as a gauge of leading indicators climbed, boosting views of the U.S. economy. Tech stocks closed in the red amid weakness in software stocks with Salesforce led the decline. The reported a third-quarter loss, but still managed to top the estimates, and gave up more than 10%. Along with Salesforce, other software companies also retreated, with losses coming from Oracle, Microsoft and VMware. Meanwhile Marvell climbed 6.5% a day after the co. reported a decline in its third-quarter income, but results surpassed estimates. Hewlett-Packard rose 2.6% ahead of its scheduled release of quarterly results on Monday. This week investors will likely to focus on European and U.S. debt developments, Spanish elections, reported failure to reach a U.S. deficit-reduction deal, and several data releases before the Thanksgiving holiday weekend. Implied volatility inched lower on massive trading volumes.
