Stocks recovered from early losses but struggled to pull out of the red as concerns over Greece continued to weigh on the market. 25 of 27 European Union members have signed on to a fiscal compact aimed at strengthening budgetary discipline and deepening political ties to avoid a repeat European debt crisis. Also,in the U.S. personal income ticked up 0.5% in December, while spending remained flat. Tech stocks followed the broader market. Many chip stocks closed in the red, led by Rambus, which fell 5.8%, following reports on Friday that said the U.S. Patent and Trademark Office invalidated a patent held by the chip-technology licensing company pertaining to memory chips used in PCs. Implied volatility inched higher on massive trading volumes.
Tuesday, January 31, 2012
Worries over Greece weighed on the market
Stocks recovered from early losses but struggled to pull out of the red as concerns over Greece continued to weigh on the market. 25 of 27 European Union members have signed on to a fiscal compact aimed at strengthening budgetary discipline and deepening political ties to avoid a repeat European debt crisis. Also,in the U.S. personal income ticked up 0.5% in December, while spending remained flat. Tech stocks followed the broader market. Many chip stocks closed in the red, led by Rambus, which fell 5.8%, following reports on Friday that said the U.S. Patent and Trademark Office invalidated a patent held by the chip-technology licensing company pertaining to memory chips used in PCs. Implied volatility inched higher on massive trading volumes.
