Stocks moved modestly higher in early morning trading Wednesday, ahead of the Federal Reserve's interest rate announcement, a day after the market posted its biggest losses in five weeks.
A new report showing the nation's trade deficit edged up less than expected in June had little effect on trading. The Commerce Department said the deficit increased to $27 billion from $26 billion in May, which was the lowest level since November 1999.
Economists polled by Thomson Reuters had expected the deficit to increase to $28.5 billion.
Overseas, Asian markets fell amid new worries about the speed of economic recovery in
It is widely expected that the central bank will hold the federal funds rate near zero percent. What investors are uncertain about it how the Fed will size up the economy -- whether it sees further signs of strengthening that would justify the gains in stocks since summer. Investors have bid stocks higher on the belief that the economy was pulling out of recession.
The Dow Jones industrial average rose 100.51, or 1.09 percent, to 9,341.96. The Standard & Poor's 500 index rose 10.41, or 1.05 percent, to 1004.76, while the Nasdaq composite index gained 26.39, or 1.34 percent, to 1,996.12.
Yesterday’s Top Performing Small Cap stock:
SIONIX Corporation, Inc. (OTC BB: SINX) was a SmallCapVoice.com top performer closing up over 11% on trading volume of 811,700 shares.
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/
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.
Today’s SmallCapVoice.com Hot Stocks to Watch:
GWS Technologies, Inc. (OTC BB: GWSC)
GWS Technologies, Inc., an alternative energy company developing and marketing solar and wind-powered renewable energy products and solutions, today announced that it is working with Shanghai Top Resources Import and Export Co., Ltd. and America China Technology Systems LLC in Shanghai, China, and the Shanghai Institute of Space Power Sources to develop a proprietary 210 watt polycrystalline silicon solar panel specifically adapted for commercial retrofits and the demanding climate of Arizona and the desert Southwest.
The panel is exceptionally lightweight with an aluminum frame designed for ease of installation. Each panel provides guaranteed power of 80% rated power output for 25 years and has a two year workmanship guarantee. Global demand for solar panels is growing at about 50 percent per annum, according to industry sources, with government programs in
Sunergy, Inc. (OTC BB: SNEY)
Sunergy, Inc. announced the appointment of Mr. Karl A. Baum as Manager of West African Business Development to further advance the Company's Nyanhin Project within the
Sunergy is an aggressive junior mining exploration and development Company that is production oriented at the earliest possible profitable opportunity. We control 100% of the 150 SQ. Km. Nyinahin mining concession with a full prospecting license. The concession is surrounded by several operating mines and is adjacent to Newmont Mining's property. This concession has the Ofin river flowing through our eastern portion and there are numerous artisan pits ready for testing and evaluation for near term production. The Ofin river is known for good alluvial gold production. Artisans usually recover about 30% of the available gold through primitive hand methods, leaving 60-70% to be recovered by modern mechanical operations.
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