Stocks are trading slightly lower early Thursday. Support by gains in overseas markets and an encouraging outlook from Cisco Systems Inc. are being outweighed by a sluggish retail report.
The market's gains, however, were muted by sluggish July sales reports from retailers, as worries about job losses kept consumers from spending freely. Expectations had been low though, so the dips in sales didn't come as much of a surprise to the market.
In Europe, stocks rebounded after two days of losses after European central banks left their benchmark interest rates at low levels. The Bank of England also announced plans to expand its asset purchase program.
Meanwhile, Cisco Systems offered some fairly upbeat news, despite reporting a 46 percent drop in profit in its latest quarter late Wednesday. The technology giant, which narrowly beat expectations, said the quarter may have been the bottom of the recession-related downturn, noting positive trends in orders for its products.
The Labor Department is expected to announce before the market opens that the number of newly laid-off workers seeking unemployment benefits fell slightly last week, after rising more than expected in the previous week.
In the past two days, stocks have stalled from their big surge in July as investors become more cautious ahead of the government's crucial July employment report on Friday. The market soared higher last month on signs of improvement in industries such as housing and manufacturing, but investors are worried that rising unemployment and still-sagging consumer spending could seriously dampen the economy's recovery.
At the same time, analysts say some pause in buying is warranted after such a huge advance; The Dow Jones industrial average is up 13.9 percent in just 18 days.
In early trade, the Dow Jones industrial average is down 27 at 9,254. Standard & Poor's 500 index is down 4 points at 998, while Nasdaq is down 10 points at 1983.
Yesterday’s Top Performing Small Cap stock:
American Green Group, Inc. (Pink Sheets: AMNE) was a SmallCapVoice.com top performer closing up over 87% on trading volume of 597,496,942 shares.
AMNE is a U.S. based company rapidly moving into the six billion dollar building insulation business. AMNE is different from other insulation manufacturers and distributors because the company is entering the market with eco-friendly, soy-based spray foam insulation. There are only a handful of companies with this new eco-friendly insulation.
Today’s SmallCapVoice.com Hot Stock to Watch:
SIONIX Corporation, Inc. (OTC BB: SINX)
SIONIX designs "Safe Water Systems" that require uninterrupted water supplies with many applications in mind, such as defense, government facilities, emergency water supplies during natural disasters, hospitals, pharmaceuticals, resorts and hotels, housing development projects, industrial applications and brackish waste water from oil and gas drilling. Intended applications also include desalinization and pre-treatment for reverse osmosis and other membrane applications. Industrial applications would also include industrial waste water, bottled water, industrial process water, food, dairy, agri-business, meat processing, and hog and poultry operations.
A New Audio Interview with Chairman of the Board, John Pavia, of SIONIX Corporation is now at SmallCapVoice.com. The interview can be heard at http://smallcapvoice.com/blog/7-29-09-audio-interview-with-sionix-corporation-otcbb-sinx/
To get small cap and OTC stock quotes, company news, and much more please visit http://www.smallcapvoice.com/. Don’t forget to sign up for our complimentary newsletter. Our newsletter comes out once a day in the morning and features great small cap stock news, audio interviews, investor fact sheets on quality small cap stocks and more. We will never share your email address and we use Constant Contact, the industry standard for ethical email distribution. This provider makes it just as easy to opt-out as it is to opt in guaranteed!
About SmallCapVoice.com
SmallCapVoice.com is a recognized corporate investor relations firm, with clients nationwide. Known for its ability to help emerging growth companies build a following among retail and institutional investors, SmallCapVoice.com utilizes its stock newsletter to feature its daily stock picks, audio interviews, as well as its client's financial news releases. SmallCapVoice.com also offers individual investors with all the tools they need to make informed decisions about the stocks they are interested in. Tools like our stock charts, stock alerts, and our investor fact sheets can assist with investing in stocks that are traded on the OTC BB and Pink Sheets.
Small Cap Voice SCV is an electronic publication, and is for informational purposes only. The stocks profiled by SCV are only company profiles and are not intended to be and should not be accepted by you as recommendations to buy or sell in these securities. These profiles are compiled from publicly available sources. Our sources include, but are not limited to, online research, company profiles, member suggestions, magazines, newspapers, analyst suggestions, broker recommendations, contact with the company, company rumors, press releases and other similar information sources. All profiles are based on information that is accessible by the public. Investing in stocks involves risk. SCV is not and does not hold itself out to be a registered broker or dealer or other licensed securities professional. You should consult a qualified, licensed financial advisor or stock broker before making any decisions to invest in the securities of any company that is described in these profiles. For compensation and complete disclaimer click here.
Contact:
Stuart T. Smith
CEO
512-267-2430
ssmith@smallcapvoice.com
http://www.smallcapvoice.com