Stocks fell in early trading Wednesday, following the lead of overseas markets. The Shanghai stock market dropped 5 percent on concerns about a sustainable economic recovery in China, and the major indexes in Europe are all lower.
Investors are still battling concerns about consumer spending that have stalled stocks' summer rally. Hewlett-Packard Co. on Tuesday became the latest big company to report ongoing weakness in sales that sent its profit down 19 percent in the latest quarter.
But the computer company provided an outlook for the fiscal fourth quarter that was better than expected.
Meanwhile, Treasury prices rose as investors sought a safe place for their money. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.45 percent from 3.52 percent late Tuesday.
The dollar was mixed against other major currencies. Gold prices rose, while other metals prices fell.
Oil prices added 16 cents to $69.35 a barrel on the New York Mercantile Exchange.
In early trading, the Dow Jones industrials fell 22.44, or 0.2 percent, to 9,195.50. The Standard & Poor's 500 index fell 2.21, or 0.2 percent, to 987.46, while the Nasdaq composite index fell 5.58, or 0.3 percent, to 1,950.34.
Yesterday’s Top Performing Small Cap stock:
Mantra Venture Group Ltd. (OTC BB: MVTG) was a SmallCapVoice.com top performer closing up over 6% on trading volume of 119,319 shares.
Mantra Venture Group Ltd. is pleased to announce the official launch of Mantra Media's new website: www.mantramediacorp.com. Mantra Media, a subsidiary of Mantra Venture Group Ltd., is an eco-friendly design studio and provider of integrated marketing solutions. In using green printing methods, non-toxic waste processes and accredited waste management services, Mantra Media provides a variety of leading-edge design and branding techniques to optimize market awareness and perception.
Mantra Media currently offers a variety of services, including: corporate identity design, corporate and product brochures, website and internet campaigns, email marketing, green hosting, green promotional material, tradeshow graphics, powerpoint presentations, and more. In choosing Mantra Media as a one-stop media supplier, clients will receive a complete package that encapsulates their businesses and stimulates target markets - all with minimal impact on the environment.
Today’s SmallCapVoice.com Hot Stock to Watch:
HearAtLast Holdings, Inc. (Pink Sheets: HRAL)
HearAtLast Holdings, Inc., a leading provider of suitable affordable solutions to clients with hearing needs in the billion dollar hearing loss market, announced the addition of Pierre Lafontaine to its senior management team. In his new role as Managing Director and GM, Pierre will focus on expansion and restructuring of existing clinics with an emphasis on increased revenue generation through community outreach programs and clinic overhead reductions.
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