Stocks ended mostly in the red as investors were anxious about progress on Greek debt talks and waded through another batch of corpora results. Also, the IMF lowered its outlook for the world economy’s growth from 4% to 3.3%, and warned that the global financial system faces growing risks from the debt crisis in Europe. Tech stocks got a lift after Texas Instruments signaled a coming rebound, and on gains from EMC and Western Digital, which both jumped on strong results. In the vening trade Apple rose 7.8% in heavy volume, after the co.’s first-quarter earnings more than doubled and second-quarter forecast came in ahead of current projections. Yahoo fell 0.6% after the firm reported earnings in line and weaker than expected revenue. Also, AMD lost 2.9% as the chip maker’s quarterly revenue fell shy of expectations. The Fed will release forward-looking forecasts for the federal funds rate for the first time ever today. Implied volatility inched higher on moderate trading volumes.
Wednesday, January 25, 2012
Closed in the red on worries about Greece and global growth
Stocks ended mostly in the red as investors were anxious about progress on Greek debt talks and waded through another batch of corpora results. Also, the IMF lowered its outlook for the world economy’s growth from 4% to 3.3%, and warned that the global financial system faces growing risks from the debt crisis in Europe. Tech stocks got a lift after Texas Instruments signaled a coming rebound, and on gains from EMC and Western Digital, which both jumped on strong results. In the vening trade Apple rose 7.8% in heavy volume, after the co.’s first-quarter earnings more than doubled and second-quarter forecast came in ahead of current projections. Yahoo fell 0.6% after the firm reported earnings in line and weaker than expected revenue. Also, AMD lost 2.9% as the chip maker’s quarterly revenue fell shy of expectations. The Fed will release forward-looking forecasts for the federal funds rate for the first time ever today. Implied volatility inched higher on moderate trading volumes.
