Stocks traded in a narrow range, after worse-than-expected U.S. housing and manufacturing data tempered the modest enthusiasm over Europe’s progress on a new fiscal pact. It was the best January for the S&P and Dow since 1997 and since 2001 for the Nasdaq. Tech stocks rose led by gains in Apple, after it named a British retail executive to run its chain of popular stores. In the evening trade Amazon tumbled 8.7% after the co. reported weaker-than-expected earnings and sales and issued light revenue outlook . Broadcom picked up 2% after the firm reported earnings and guidance in line with estimates. Also, Seagate was up 6.2% as the hard-disk drive maker’s fiscal second-quarter financial results outstripped forecasts. Implied volatility inched higher on massive trading volumes.
Wednesday, February 1, 2012
Posted best January since 2001
Stocks traded in a narrow range, after worse-than-expected U.S. housing and manufacturing data tempered the modest enthusiasm over Europe’s progress on a new fiscal pact. It was the best January for the S&P and Dow since 1997 and since 2001 for the Nasdaq. Tech stocks rose led by gains in Apple, after it named a British retail executive to run its chain of popular stores. In the evening trade Amazon tumbled 8.7% after the co. reported weaker-than-expected earnings and sales and issued light revenue outlook . Broadcom picked up 2% after the firm reported earnings and guidance in line with estimates. Also, Seagate was up 6.2% as the hard-disk drive maker’s fiscal second-quarter financial results outstripped forecasts. Implied volatility inched higher on massive trading volumes.
