Stocks advanced, on the back of gains in global markets and weak dollar, as investors found comfort in Fitch Rating’s comments about Europe being on the right path toward solving its debt problems and a decent start to quarterly corporate results. The gains were led by bank stocks. Also, the Census Bureau reported that wholesale inventories rose 0.1% in November, lower than 0.6% increase expected . Tech stocks were broadly higher, but Netflix slumped 2.4% after Bank of America cut its rating. In other evening action, Eastman Kodak picked up 3.3%, after the company said it’s suing Apple and HTC for infringement of certain patents related to digital imaging technology. Implied volatility inched lower on moderate trading volumes.
Wednesday, January 11, 2012
Advanced on weak dollar and comments about Europe
Stocks advanced, on the back of gains in global markets and weak dollar, as investors found comfort in Fitch Rating’s comments about Europe being on the right path toward solving its debt problems and a decent start to quarterly corporate results. The gains were led by bank stocks. Also, the Census Bureau reported that wholesale inventories rose 0.1% in November, lower than 0.6% increase expected . Tech stocks were broadly higher, but Netflix slumped 2.4% after Bank of America cut its rating. In other evening action, Eastman Kodak picked up 3.3%, after the company said it’s suing Apple and HTC for infringement of certain patents related to digital imaging technology. Implied volatility inched lower on moderate trading volumes.
