Stocks rose after another strong monthly jobs report illustrated the recovery continues. Nonfarm payrolls climbed by 227,000 last month, and the unemployment rate is still high at 8.3%. The market lost only a bit of steam after the International Swaps and Derivatives Association Inc. said a restructuring credit event had occurred with Greece’s use of collective-action clauses to amend the terms of Greece-issued bonds. Tech stocks got a lift from Advanced Micro Devices and Intel, while Texas Instruments slipped 1% after the co. cut its outlook. The week ahead brings key reports on the U.S. economy, a meeting of the Federal Reserve and the promise of a final approval for Greece's second bailout. Implied volatility inched lower on moderate trading volumes.
Monday, March 12, 2012
Rose after upbeat jobs report
Stocks rose after another strong monthly jobs report illustrated the recovery continues. Nonfarm payrolls climbed by 227,000 last month, and the unemployment rate is still high at 8.3%. The market lost only a bit of steam after the International Swaps and Derivatives Association Inc. said a restructuring credit event had occurred with Greece’s use of collective-action clauses to amend the terms of Greece-issued bonds. Tech stocks got a lift from Advanced Micro Devices and Intel, while Texas Instruments slipped 1% after the co. cut its outlook. The week ahead brings key reports on the U.S. economy, a meeting of the Federal Reserve and the promise of a final approval for Greece's second bailout. Implied volatility inched lower on moderate trading volumes.
