The market is trying to rebound a day after a late-session sell off pushed major indexes lower. Lingering concerns over whether investors had been overly optimistic about an economic rebound in pushing the market higher recently fed into Wednesday's decline.
Overseas markets were tumbling following the U.S. market's drop Wednesday, and as uncertainty mounted about Chinese stimulus measures aimed at pumping up that country's economy.
Investors are poring over numerous earnings reports from a variety of sectors for insight into the strength of consumers as they continue to deal with a weak jobs market. Consumer spending accounts for more than two-thirds of the economy.
The mixed earnings signals continue to show an economy in flux.
Credit card lenders American Express Co. and Capital One Financial Corp. should provide clues into whether consumers are still struggling to repay loans, which has been a major problem for nearly the entire financial sector for the past two years. Both report after the market closes.
The Labor Department provided a disappointing employment picture Thursday morning, saying workers filing for jobless benefits for the first time rose more than expected last week.
New unemployment claims rose to a seasonally adjusted 531,000 last week, from an upwardly revised 520,000 the previous week. Wall Street economists expected only a slight increase, according to economists polled by Thomson Reuters.
The Dow rose 13.90, or 0.1 percent, to 9,963.26. The broader Standard & Poor's 500 index slipped 1.56, or 0.1 percent, to 1,079.84. The Nasdaq composite index fell 7.96, or 0.4 percent, to 2,142.77.
Yesterday’s Top Performing Small Cap stock:
Biomedical Technology Solutions Holdings, Inc. (OTC BB: BMTL) was a SmallCapVoice.com top performer yesterday closing up over 8% on trading volume of 4,000 shares.
A New Audio Interview with Don Cox, President and CEO of BMTS, is Now at SmallCapVoice.Com. The interview can be heard at http://smallcapvoice.com/blog/10-16-09-audio-interview-with-biomedical-technology-solutions-holdings-inc-otcbb-bmtl.
Biomedical Technology Solutions Holdings, Inc., located in Englewood, Colorado sells the Demolizer® II through its wholly owned subsidiary Biomedical Technology Solutions, Inc. BMTS' patented Demolizer® Technology converts infectious biomedical waste into non-infectious material. BMTS' products provide biomedical waste treatment solutions for the over 1,000,000 low to medium volume medical waste generators in the US and a global market five times larger than the US.
TIE Technologies, Inc. (Pink Sheets: TTCS) was a SmallCapVoice.com top performer yesterday closing up over 30% on trading volume of 5,000 shares.
TIE Technologies is a systems integration and telecommunications company focused on engineering and delivering innovative solutions for user's needs and challenges within the dynamic global voice, video and data communications markets. The company offers managed IT and telecommunication services to solve a myriad of complex client requirements. Services and solutions include applications hosting, managed hosting, complex event systems management services, content delivery networks, data broadcasting networks, and voice and video solutions.
Today’s SmallCapVoice.com Hot Stock to Watch:
Viper Networks, Inc. (Pink Sheets: VPER)
Viper Networks, Inc., a telecommunication network operations and technical management company, announced today that it has engaged a professional legal and accounting team to prepare and file a Form 10 Registration Statement with the SEC to commence the process of becoming a fully-reporting company once again, in addition to potentially seeking a higher market listing for the Company.
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