Stocks rose early Monday after a two-week slide in the market and as traders prepared for a report on the service industry.
Investors are looking to the report on the services industry for any sign of an economic recovery. In the past two weeks, investors have sold stocks on weaker-than-expected data.
The Institute for Supply Management's service index reading for September is expected to improve to 50, which would be its highest level of the year, according to economists polled by Thomson Reuters. The index reached 48.4 in August. A reading below 50 indicates the industry is shrinking, while a reading above 50 indicates growth.
An improvement in the service industry is considered important to a recovery. It is dependent on consumer spending, which accounts for about 70 percent of all economic activity.
In early trading, the Dow Jones industrial average rose 40.51, or 0.4 percent, to 9,528.18. The broader Standard & Poor's 500 index rose 4.54, or 0.4 percent, to 1,029.75, and the Nasdaq composite index rose 13.40, or 0.7 percent, to 2,061.51.
Yesterday’s Top Performing Small Cap stock:
Viper Networks, Inc. (Pink Sheets: VPER) was a SmallCapVoice.com top performer yesterday closing up over 13% on trading volume of 87,400 shares.
Viper Networks, Inc., a Nevada corporation, was founded in September 2000 by a team of experienced entrepreneurs who have a successful track record in building both private and public companies. The Company is a full service integration and application services provider (“ASP”) of worldwide Voice over Internet Protocol (“VoIP”) telephony services, including the transmission of voice and data traffic for communications carriers and provision of enhanced Web-based and other communications services to businesses, institutions and ISPs. VoIP telephony is the real time transmission of voice communications in the form of digitized “packets” of information over the Internet or a private network, similar to the way in which e-mail and other data is transmitted. Viper specializes in the provision of VoIP telephony services and the cost-effective design, implementation, maintenance and management of network-based voice and data communications. Viper has been pioneering VoIP services and technology for more than nine years.
Today’s SmallCapVoice.com Hot Stock to Watch:
Premier Power Renewable Energy, Inc. (OTC BB: PPRW)
Premier Power Renewable Energy, Inc., 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, announced today that it has recently signed a contract for the sale of a .6 megawatt (MW) rooftop solar system in Spain. The project is valued as high as $3.0 million.
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