Stocks finished mixed as the market reacted to a batch of lackluster U.S. economic data and ongoing concerns about Europe's debt crisis and the risk of Greece exiting the eurozone. Initial jobless claims held near the 370,000 mark for a fourth week, signaling companies probably increased hiring only slightly in May. Durable goods orders only rose 0.2%, less than economists were expecting. Excluding transportation goods, orders unexpectedly dropped 0.6%, compared to forecasts for a modest gain. Also, China's manufacturing sector continued to shrink in May, according to a preliminary reading from HSBC's Flash Purchasing Managers' Index. Tech sector weakened for the day, on growing concerns about the health of corporate tech spending. On the upside, Shares of Hewlett-Packard rose 3.3% on the co.’s plan to lay off about 27,000 employees and after it reported quarterly sales and profit that beat expectations. Facebook ended the day up 3.2%, but still below its IPO price. NetApp slid more than 12% after the co. reported weak results and a disappointing forecast for the current period, renewing worries about the health of the corporate tech sector. Google was down 0.95% after CNBC reported that the co. was preparing to launch a 7-inch tablet device that might compete with the Kindle Fire from Amazon.Implied volatility inched lower on moderate trading volumes.
