Wednesday's industrial output report provided evidence of a rebound. The Fed said industrial activity surged 0.8 percent in August, better than the 0.6 percent increase economists had forecast. The Fed also revised July's figures to a 1 percent increase, twice as much as originally reported.
Investors were little swayed by the latest report on consumer prices. The Commerce Department said its Consumer Price Index, a measure of inflation at the retail level, rose 0.4 percent in August just above the 0.3 percent rise economists polled by Thomson Reuters expected.
Excluding volatile energy and food prices, the index rose 0.1 percent, in line with expectations. With most of the increase tied to more volatile energy and food prices, the results showed potential inflation appears to be contained.
The mild price jump at the retail level came a day after the Commerce Department said prices at the wholesale level jumped 1.7 percent in August, more than double the rise predicted by economists.
In midmorning trading, the Dow Jones industrial average rose 10.28, or 0.1 percent, to 9,693.69. The Standard & Poor's 500 index rose 1.63, or 0.2 percent, to 1,054.26, while the Nasdaq composite index rose 3.51, or 0.2 percent, to 2,106.15.
Yesterday’s Top Performing Small Cap stock:
Premier Power Renewable Energy (OTC BB: PPRW) was a SmallCapVoice.com top performer yesterday closing up over 5% on trading volume of 8,050 shares.
Premier Power Renewable Energy, a global leader in the development, design, engineering and construction of solar power systems for commercial, government and utility markets in the U.S., Spain and Italy, today announced that it has completed the installation of multiple solar systems for the County of San Joaquin in California.
The projects will generate approximately $1.3 million in revenue for Premier Power and will utilize a combination of different solar module technologies, including Suntech crystalline modules, SunPower Powerguard modules and the first U.S. installation of Solyndra modules.
Today’s SmallCapVoice.com Hot Stock to Watch:
Mantra Venture Group Ltd. (OTC BB: MVTG)
Mantra Venture Group Ltd. ('Mantra', OTCBB: MVTG, FSE: 5MV) is pleased to announce that it has been selected to participate in the Metro Vancouver 2010 Partnership Investment Program - an initiative by Metro Vancouver Commerce (MVC) to bring together some of the world's top business leaders during the 2010 Olympic games being held in Vancouver, British Columbia. MVC will be inviting a consortium of 50 companies from around the world for the event, including global leaders in environmental technologies, renewable energies, Ag-biotech/agri-food, green building products, financial and business services and more.
Small Cap News Highlights: The Wyncrest Group, Inc. (Pink Sheets: WNCG)
As was announced on July 28th, 2009, The Wyncrest Group, Inc., a niche insurance consortium, today reaffirms that its pending acquisition of Florida Insurance Consulting Inc. is moving forward towards an agreement on the terms for the acquisition. Wyncrest has been provided with (FIC) financials and is in the process of its due diligence. The acquisition is still targeted for completion in the 4th quarter. Once again, this acquisition is an important key to our growth in the Latin American markets. With the huge growth of the Spanish speaking population in the US, many markets are underrepresented and many families and businesses need an insurance and financial services provider.
Wyncrest plans to acquire insurance and financial services businesses and capitalize their most valuable asset of interest being the customer database with servicing contracts. These acquired customers and agent relationships provide immediate cash flow with little variable cost with fertile prospects for add on business with new clients and affiliate agents.
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