Stocks rose moderately in early trading Monday as investors brace for the government's first reading on the economy in the third quarter later in the week and fresh earnings reports and debt auctions.
Overseas markets rose, bolstered by new signs economies in Asia are well on their way to recovery. South Korea reported its economy grew at its fastest pace in seven years.
However, trading is likely to pick up throughout the week ahead of the Commerce Department's report on third-quarter gross domestic product, the broadest measure of the economy's health. Economists predict the economy grew at an annual rate of 3.2 percent in the quarter, according to Thomson Reuters. That would mark the first quarter of growth after four straight declines.
Investors have been hunting for definitive signs of growth in recent weeks and the GDP report, due out Thursday, would provide the clearest sign yet of how far the economy has bounced back from its depths earlier in the year.
Earnings reports released throughout the week should also provide insight to traders. The health of the consumer will be analyzed through the results of companies such as Kellogg Co., Procter & Gamble Co. and Visa Inc. Consumer spending accounts for more than two-thirds of economic activity.
In early trading, the Dow Jones industrial average rose 95.00, or 0.95 percent, to 10,067.18.
Yesterday’s Top Performing Small Cap stock:
Muscle Flex, Inc. (Pink Sheets: MFLI) was a SmallCapVoice.com top performer yesterday closing up over 6% on trading volume of 1,896,000 shares.
Muscle Flex Inc. announced today that it has chosen Chief Media (www.ChiefMedia.com) as its national media buyer for the BUDDY Tablet Caddy(TM) (www.BUDDYTabletCaddy.com) and the Beagle StepFit(TM) (www.BeagleStepFit.com) infomercials. Chief Media is a one of the nation's top large scale television, print, radio and online media purchasers and is a leader as well as a pioneer in the direct response industry. Chief Media also provides a wealth of value added expertise that includes business development, research as well as data tracking, data assimilation and overall program analysis. Muscle Flex has developed a close relationship with the principals at Chief Media and is eager to utilize their years of expertise in the direct response business with the BUDDY and the Beagle as well as a number of other planned product releases anticipated shortly.
Today’s SmallCapVoice.com Hot Stock to Watch:
Visual Management Systems, Inc. (OTC BB: VMSY)
A New Audio Interview with Jason Gonzalez, President and CEO of Visual Management Systems is now at SmallCapVoice.com. The interview can be heard at http://smallcapvoice.com/blog/10-22-09-audio-interview-with-visual-management-systems-inc-otcbb-vmsy/.
Visual Management Systems, Inc. ('VMS') provides video surveillance solutions to small and mid-size enterprises. VMS's products and services help businesses, government agencies and educational institutions prevent crime, ensure safety, enhance productivity and improve service. Businesses using VMS technology include 7-11, Applebee's, Best Western Hotels, Duncan Donuts, KFC, NAPA, Residence Inn, Taco Bell, TGI Fridays and more. Since its inception, VMS has been committed to developing and implementing industry-leading video security technology at affordable price points.
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