Stocks wavered in a tight range Tuesday, a day after the Dow Jones industrials shot up 200 points for the second time in three days. Following a recent pattern, the stock market on Monday took its cue from the dollar, driving higher as the dollar weakened.
On Tuesday, investors increased their buying of safe-haven assets like the dollar and Treasury notes. The ICE Futures US dollar index, which measures the dollar against other currencies, crept up 0.2 percent in morning trading
Record-low interest rates in the U.S. and the slide in the dollar that resulted have been major factors behind the surge in stocks over the past several months. A weaker dollar allows investors to borrow money cheaply, while the low interest rates also encourage them to hold any assets other than low-yielding cash, such as stocks, commodities and bonds.
The falling dollar has enabled many investors to look past some of the economy's persistent trouble spots, including rising unemployment. The jobless rate rose to 10.2 percent in October, the highest level in 26 years.
In early trading, the Dow rose 23.28, or 0.2 percent, to 10,250.22. The Standard & Poor's 500 index rose 2.01, or 0.2 percent, to 1,095.09, while the Nasdaq composite index rose 4.85, or 0.2 percent, to 2,158.91.
Yesterday’s Top Performing Small Cap stock:
GWS Technologies, Inc. (OTC BB: GWSC) was a SmallCapVoice.com top performer yesterday closing up over 24% on trading volume 77,410 of shares.
GWS Technologies, Inc., an alternative energy company developing and marketing solar and wind-powered renewable energy products and solutions, announced today that it is working with Dominion Real Estate Investments, LLC to develop a 36-acre solar farm in Florence, Arizona. The project will cost approximately $28 million.
“This project would be one of the largest projects in Arizona and, in conjunction with other projects, gives us 40 megawatts under development, which positions us to be a leader in solar farm development in the Southwest,” said GWS Technologies President Richard Reincke. “Forty megawatts generates enough electricity to provide power to approximately 12,000 homes,” Mr. Reincke added.
Today’s SmallCapVoice.com Hot Stock to Watch:
Global Health Ventures Inc. (OTC BB: GHLV)
Global Health Ventures Inc., a Specialty Pharma, recently announced that it has completed the prototype manufacturing of the drug "X-Excite" Global's male enhancement drug. The manufacturing of the product was carried out under contract with Vida Pharma of Montreal, Canada. Vida Pharma specialized in the designing of the new tablet size, taste, and hardness.
The Company has manufactured over 4000 pills from several different incipient and coatings that are all safe for human consumption. These various batches will be tested at the University of British Columbia, Canada for independent evaluation in regards to drugs adsorption, taste, color and hardness. If the samples meet our end goals then the drug will be ready for mass production under the proprietary formula for testing in humans and finally applying for regulatory approval.
SmallCapVoice.com Stocks in the News
Lucas Energy, Inc. (AMEX: LEI)
A new audio interview with William A. Sawyer, President and CEO of Lucas Energy, Inc., an independent oil and gas company based in Houston, TX, is available on The Business Channel. The interview can be heard at http://tbctoday.com.
Xcellink International Inc. (OTC BB: XCEL)
Xcellink International Inc., a developer of a patented mobile payments & banking platforms, announced that is has executed an agreement with 3i Infotech for the development and integration of its patented software with Apple's iPhone technology.
Work will be carried out by 3i Infotech's development team and it is expected that the new technology will be ready for testing in early January 2010. The board of Xcellink is extremely excited by this relationship due in part to the 3i Infotech Group of Companies, which includes Regulus Group, a subsidiary of the global information technology company 3i Infotech, and one of North America's largest payment processors.
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