Stocks finished up about 1%, as investors breathed a delayed sigh of relief about Greece and were optimistic the Federal Reserve might act to boost the economy at the end of its two-day meeting . As fears of an imminent Greek exit from the euro recede, banking and debt worries in Spain have moved into greater focus. Spain's 10-year yield remained above 7% Tuesday, heightening worries that the country will need a bailout. In May, home builders filed for 780,000 building permits at the fastest pace since September 2008. Tech stocks put in a broad slate of gains, with Oracle advancing 3.1% following a better-than-expected earnings report and Microsoft gaining 2.9% a day after unveiling its new Surface tablet. Also, Nvidia rose 6.7% as the co.’s Tegra 3 chips will be used in one of the models of the Surface tablet. In the evening trade Adobe Systems lost 4.3% after in-line earnings report and weaker-than-expected forecast. Implied volatility inched lower on massive trading volumes.
Wednesday, June 20, 2012
Rose on hope for Fed action
Stocks finished up about 1%, as investors breathed a delayed sigh of relief about Greece and were optimistic the Federal Reserve might act to boost the economy at the end of its two-day meeting . As fears of an imminent Greek exit from the euro recede, banking and debt worries in Spain have moved into greater focus. Spain's 10-year yield remained above 7% Tuesday, heightening worries that the country will need a bailout. In May, home builders filed for 780,000 building permits at the fastest pace since September 2008. Tech stocks put in a broad slate of gains, with Oracle advancing 3.1% following a better-than-expected earnings report and Microsoft gaining 2.9% a day after unveiling its new Surface tablet. Also, Nvidia rose 6.7% as the co.’s Tegra 3 chips will be used in one of the models of the Surface tablet. In the evening trade Adobe Systems lost 4.3% after in-line earnings report and weaker-than-expected forecast. Implied volatility inched lower on massive trading volumes.
