Stock investors are dismissing a big jump in sales of existing homes last month as an aberration.
Stocks remain mostly lower Friday following a report that September home sales soared 9.4 percent, nearly double analysts' forecasts. It was the highest level in more than two years as buyers raced to complete purchases before a tax credit expires.
The market is lower after a big spike Thursday and with little new information to trade on after a busy week of earnings. Strong profits from Amazon.com and Microsoft are drawing some buyers to tech stocks.
The Dow Jones industrial average is down 50 at 10,031. The Standard & Poor's 500 index is down 5 at 1,088, while the tech-heavy Nasdaq composite index is up 9 at 2,174.
Yesterday’s Top Performing Small Cap stock:
Cellceutix Corporation (OTC BB: CTIX) was a SmallCapVoice.com top performer yesterday closing up over 43% on trading volume of 2,000 shares.
Cellceutix Corporation is a preclinical cancer and anti-inflammatory drug developer. Cellceutix owns the rights to seven drug compounds, including Kevetrin, which it is developing as a treatment for certain cancers, and KM-133, which it is developing for the treatment of psoriasis.
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 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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