Stocks mostly fell Friday a rise in consumer sentiment failed to outweigh J.P. Morgan Chase & Co.’s $2 billion trading loss. J.P. Morgan slumped 9.3%. The Thomson Reuters/University of Michigan preliminary index of consumer sentiment advanced to 77.8 from 76.4 in April. The gauge’s most recent reading is its highest since January 2008. Gains from Nvidia Corp. and Netflix Inc. highlighted trading in tech stocks and helped the sector edge upward in spite of early broad-market losses. Nvidia reported quarterly revenue and an outlook that beat estimates and rallied 6.4%. Netflix rose almost $5, or nearly 7%, as a filing with the Securities and Exchange Commission said Netflix director Jay Hoag acquired 200,000 shares of the online DVD-rental and video-streaming company. This week, investors will continue to monitor situation in Greece, auctions of Italian and Spanish bonds and report about the EU economic growth in the first quarter. Investors will also closely watch readings on U.S. inflation and April retail sales, industrial production numbers and the Federal Reserve minutes. On the earnings front, it will be a relatively light earnings week, with mostly retailers reporting. Implied volatility inched to the 20 level o huge trading volumes.
