Stocks are rallying after Federal Reserve Chairman Ben Bernanke told investors what they wanted to hear: The economy is indeed on the verge of recovery.
Major stock indicators, which were up moderately before his comments, surged more than 1 percent.
Bernanke's remarks during an annual Fed conference in Wyoming energized investors after a choppy week of trading amid mixed signals on the economy.
A surprise jump in home sales is also lifting stocks. A report shows sales of existing homes soared 7.2 percent in July, the largest monthly increase in 10 years.
The Dow Jones industrial average is up 127 at 9,477. The Standard & Poor's 500 index is up 15 at 1,022, while the Nasdaq composite index is up 22 at 2,011.
Yesterday’s Top Performing Small Cap stock:
Green Star Alternative Energy (Pink Sheets: GSAE) was a SmallCapVoice.com top performer closing up over 25% on trading volume of 73,500 shares.
Green Star Alternative Energy is an environmentally conscious, renewable energy developer. The Company is working to develop more than 300 MW (megawatts) of clean electricity through wind energy. The corporate revenue model is two-fold: the use of a renewable resource allows not only for the creation of environmentally friendly energy, but the granting of carbon (greenhouse gas) emission credits which may be traded and sold. Green Star is pursuing a significant opportunity to provide clean energy to the growing Republic of Serbia and neighboring European countries. Through a joint venture with key wind farm and power trading company Notos, Green Star will become the nation's first developer of wind power. GSAE is focused on green technology and sustainable energy programs like wind turbines, hydro electric power generation, and other renewable electricity models.
Today’s SmallCapVoice.com Hot Stock to Watch:
GWS Technologies, Inc. (OTC BB: GWSC)
A New Audio Interview Featuring Richard Reincke of GWS Technologies, Inc., is Now at SmallCapVoice.com. The interview can be heard at http://smallcapvoice.com/blog/8-17-09-audio-interview-with-gws-technologies-inc-otcbb-gwsc
GWS stands for GreenWindSolar. We are a renewable energy technology company developing and marketing solar and wind-powered renewable energy products and solutions. Our products and solutions are part of the new microgeneration movement that is transforming the way businesses and consumers provide for their energy needs. The company was founded in 2005 and is headquartered in Scottsdale, Arizona.
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