Stocks retreated as Italy’s cost for borrowing climbed, pushing the euro lower, and heightening worries about the spread of Europe’s debt crisis. Boeing was the biggest advancer and climbed 1.5% after the co. snagged a $26 billion order from Oman Air, the flagship carrier of the Sultanate of Oman. Tech stocks followed the broad market and closed mostly in the red. IBM ended down a fraction after Warren Buffett said Berkshire Hathaway bought about $10.7 billion of its shares. Amazon.com, rose $1.54 a 3 after the co. announced that its newest Kindle products, including the Kindle Fire tablet, will ship earlier than expected. Western Digital and Seagate Technology closed in the red on concerns that the hard-disk industry is seen as suffering from production issues caused by the flooding in Thailand that could lead to higher PC prices after the first of the year. In the evening trade Symantec gained 3.9% as the co. and Huawei Technologies said Huawei will acquire Symantec’s 49% in Huawei Symantec Technologies Co. Ltd. for $530 million. Implied volatility inched higher on very light trading volumes.NEAREST RESISTANCE LEVELS: 57.5, 58.0, 59.1, 59.3
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