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Stocks close higher after tech earnings and debt limit increase

Stocks closed higher Wednesday after the House of Representatives passed a bill that would allow the government to borrow enough money to avoid defaulting on its loans for at least four months. Strong earnings from Google (GOOG) helped boost the tech sector, while disappointing results from Coach (COH) pulled down the apparel and accessories sector.

Among the high-volume stocks today Citigroup (C), Facebook (FB) and Microsoft (MSFT) booked gains while Research in Motion (RIMM), Ford (F) and Coach (COH) all moved lower. The Chicago Board Options Exchange Volatility Index closed the day at 12.45 after opening at 12.67. The Put/Call Volume Ratio is at 0.88 while the Put/Call Open Interest ratio is also at 0.88.

Michael Fowlkes

Michael Fowlkes is a financial writer who has been with the Fresh Brewed Media family since 2004. Over the course of his tenure with Fresh Brewed Media, he has worn many hats, including portfolio manager, options analyst, and writer. Michael received his undergraduate degree from Virginia Tech in Accounting and got his start in finance working as a stock trader for six years at Chase Investment Counsel in Charlottesville, Va.