Stocks closed slightly higher as the European Central Bank held rates steady at 1%. Stocks had been lower after U.S. December retail sales rose 0.1% instead of 0.4% expected. Also, weekly initial unemployment claims totaled 399,000, which was worse than 375,000 expected. Techn stocks were mostly higher, as EMC rose 1.8% after J.P. Morgan upgraded the stock citing the company’s momentum in the data storage market. IBM was one of the top decliners on the Dow Jones Industrial Average sinking 1% to the close. Implied volatility inched lower on modest volumes.
Friday, January 13, 2012
Managed to close higher
Stocks closed slightly higher as the European Central Bank held rates steady at 1%. Stocks had been lower after U.S. December retail sales rose 0.1% instead of 0.4% expected. Also, weekly initial unemployment claims totaled 399,000, which was worse than 375,000 expected. Techn stocks were mostly higher, as EMC rose 1.8% after J.P. Morgan upgraded the stock citing the company’s momentum in the data storage market. IBM was one of the top decliners on the Dow Jones Industrial Average sinking 1% to the close. Implied volatility inched lower on modest volumes.
