Stocks erased early losses with disappointing Chinese trade data advancing hopes for further moves to bolster the global economy. Yahoo lost 5.37% after the co. warned investors that it might reconsider its plans to return cash from selling its Alibaba stake. Other tech decliners included Cisco and Juniper Networks. Research In Motion jumped 6.3% following a Bloomberg report that IBM is showing interest in RIM’s enterprise-services unit. Also, Broadcom rose 2.97% after the chip maker was upgraded to an outperform rating by Bernstein Research. This week stocks are expected to take a much-needed vacation from their standard catalysts of Europe and the Federal Reserve and be driven by retail earnings and other economic indicators. With declining consumer sales in the past few months, retail will be a key focus. Home Depot, Deere, Target and Wal-Mart will be releasing earnings next week. Also, the troubled Groupon is also slated to report second quarter results. Meanwhile, the rising yields of Spanish and Italian bonds could weigh global financial markets. Implied volatility inched lower on light trading volumes.
