The gains came a day after investors uneasy about the strength of an economic recovery pummeled stocks for the second straight day and for the fourth time in the last five days.
Overseas, Asia markets fell overnight following declines Monday in the U.S. In Europe, markets have steadily advanced throughout the day.
The Standard & Poor's/Case-Shiller home price index, which measures housing prices in 20 major metropolitan markets, rose 1 percent in August from July, marking the third straight monthly improvement.
Prices fell 11.4 percent compared with August 2008, less than the 11.9 percent slide predicted by economists polled by Thomson Reuters. The year-over-year drop has slowed since February, indicating the housing market is starting to rebound.
The Dow Jones industrial average rose 37.49, or 0.4 percent, to 9,905.45. The Standard & Poor's 500 index rose 3.59, or 0.3 percent, to 1,070.54, while Nasdaq composite index rose 4.36, or 0.2 percent, to 2,146.21.
Yesterday’s Top Performing Small Cap stock:
Viper Networks, Inc. (Pink Sheets: VPER) was a SmallCapVoice.com top performer yesterday closing up over 5% on trading volume of 1,349,610 shares.
Viper Networks, Inc., a global telecommunication network operations and technical management company, announced today that it has successfully finalized, pending final regulatory approvals, the acquisition merger with Cirilium India Pvt. Ltd.. This merger with the Company's joint venture partner, upon completion, will entail a combination of cash, stock and certain technical and operational management contributions.
As previously announced, Cirilium India Pvt. Ltd., based in Chennai, India, is a profitable communications provider with a world class multi-gigabit, multi-protocol convergent IP infrastructure that provides convergent services like voice, data and video through the same Backbone and Broadband Access Network.
The consummation of this merger transaction with Cirilum, provides the Company with the exclusive franchise rights with Bharat Sanchar Nigam, Ltd. (BSNL), and majority ownership for operating the awarded India license both inside and outside of the country.
BSNL is the 7th largest telecommunications company in the world, with approximately 49 million customers worldwide. Viper Networks exclusive rights allows the Company to offer a full spectrum of national and international telecom services, beginning with VoIP, Calling Cards and Pinless Accounts. The calling cards will enable users to call from any landline, mobile, PC or VoIP enabled device from any country where it is being launched.
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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