Stocks ended with slim gains, following early reports on U.S. economic growth and pending home sales. Pending home sales rose 2.4% in July, to their highest level in two years. GDP rose at a 1.7% annual rate from April through June, up from its prior estimate of 1.5%. The Federal Reserve's latest report showed regional economic activity gradually expanded in July and early August across the Fed’s 12 districts. But economic data not good enough to discount QE3, some analyst say. Tech stocks edged up, propelled by gains from social media-related stocks such as Yelp and Angie’s List. Yelp soared rose 22.5% as the lockup period expired for more than 52 million shares. Angie’s List added 13.2% after Oppenheimer raised its rating to outperform from perform. Google rose 1.6% following a media report, announcing the company was looking to sell the Motorola Mobility business unit that makes set-top boxes and other home-networking gear. Also, Samsung Electronics prepared to show off an updated version of its new, Android-based Galaxy Note smartphone at a conference in Germany. In the evening trade Pandora Media and TiVo rose 8.2% and5.4% respectively, after each company reported better-than-expected quarterly financial results. Implied volatility inched higher on light trading volumes.
