Stocks fell, denting weekly gains, after J.P. Morgan Chase & Co. reported a profit drop and as investors fretted a possible Greek default and coming downgrades of euro-area nations. The tech sector slipped into the red, as Apple dipped on reports that it has stopped selling the iPhone 4S in Beijing temporarily as the company was met with unruly customers. Meanwhile, European stocks closed slightly higher Monday, shrugging off Standard & Poor’s downgrade of nine eurozone governments. This week investers will focus on news from Europe and earnings. Implied volatility inched higher on moderate volumes.
Tuesday, January 17, 2012
Eyes on Europe and earnings
Stocks fell, denting weekly gains, after J.P. Morgan Chase & Co. reported a profit drop and as investors fretted a possible Greek default and coming downgrades of euro-area nations. The tech sector slipped into the red, as Apple dipped on reports that it has stopped selling the iPhone 4S in Beijing temporarily as the company was met with unruly customers. Meanwhile, European stocks closed slightly higher Monday, shrugging off Standard & Poor’s downgrade of nine eurozone governments. This week investers will focus on news from Europe and earnings. Implied volatility inched higher on moderate volumes.
