Stocks closed flat in volatile trading, as investors grew jittery amid uncertainty surrounding Greek debt talks. The tech sector slipped into the red, despite gains in Apple and Hewlett-Packard. RIM shed 8.5% after the firm said on Sunday that CEOs Mike Lazaridis and Jim Balsillie were stepping down. In the evening trade Texas Instruments rose 2.6% after the chip maker posted mixed quarterly results and said it’s closing two factories to cut costs and sounded a brighter note about the industry’s prospects. The Federal Reserve starts a two-day meeting on Tuesday, and for the first time ever, the central bank will release forward-looking forecasts for the federal funds rate. The government also releases its first estimate of fourth-quarter economic growth on Friday. Implied volatility inched higher on moderate trading volumes.
Tuesday, January 24, 2012
Closed flat in choppy session
Stocks closed flat in volatile trading, as investors grew jittery amid uncertainty surrounding Greek debt talks. The tech sector slipped into the red, despite gains in Apple and Hewlett-Packard. RIM shed 8.5% after the firm said on Sunday that CEOs Mike Lazaridis and Jim Balsillie were stepping down. In the evening trade Texas Instruments rose 2.6% after the chip maker posted mixed quarterly results and said it’s closing two factories to cut costs and sounded a brighter note about the industry’s prospects. The Federal Reserve starts a two-day meeting on Tuesday, and for the first time ever, the central bank will release forward-looking forecasts for the federal funds rate. The government also releases its first estimate of fourth-quarter economic growth on Friday. Implied volatility inched higher on moderate trading volumes.
