Stocks closed broadly higher after Greece approved austerity measures to ensure funds needed to avoid default, with European finance ministers now considered likely to ratify a 130 billion euro ($172 billion) package for Greece. Tech stocks followed the broader market, with Apple gaining 1.9% (closing above $500 for the first time). Separately, the co. said a nonprofit labor group has started inspecting working conditions at the factories of its suppliers, including Foxconn’s plants in southern China. Chipmakers Advanced Micro Devices and Nvidia got a lift after a pair of industry analyst stock upgrades. Advances also came from Dell, Microsoft, Google, IBM and Priceline.com. Implied volatility inched lower on modest trading volumes.
Tuesday, February 14, 2012
Gained after Greece approved austerity
Stocks closed broadly higher after Greece approved austerity measures to ensure funds needed to avoid default, with European finance ministers now considered likely to ratify a 130 billion euro ($172 billion) package for Greece. Tech stocks followed the broader market, with Apple gaining 1.9% (closing above $500 for the first time). Separately, the co. said a nonprofit labor group has started inspecting working conditions at the factories of its suppliers, including Foxconn’s plants in southern China. Chipmakers Advanced Micro Devices and Nvidia got a lift after a pair of industry analyst stock upgrades. Advances also came from Dell, Microsoft, Google, IBM and Priceline.com. Implied volatility inched lower on modest trading volumes.
