Stocks pared early losses to close virtually unchanged as investors waited for events later in the week, including the minutes from the Federal Reserve’s last meeting. Best Buy fell 10.4% after buyout talks with founder Richard Schulze floundered, also the co. tapped French restructuring expert Hubert Joly as its CEO. Apple climbed 2.6% to record level, as buzz grew around the expected September launch of the iPhone 5. Facebook jumped 5.0% after Capstone Investments upgraded the stick to buy from hold with a price target of $26. Also, tech sector got a lift from Hewlett-Packard and Dell, which were up 2.9% and 2.8% respectively ahead of earnings. Implied volatility little changed on modest trading volumes.
