Gold touched a fresh high and oil rose as the dollar slipped against major currencies. The drop in the dollar follows remarks from Federal Reserve officials late Tuesday that noted the economic recovery is likely to be weak and reiterated that the central bank will keep rates low.
Record-low interest rates and the resulting slide in the dollar have been major forces behind the recent surge in stocks.
Upbeat news about corporate earnings and global economies also boosted stocks. The French bank Credit Agricole SA posted earnings that topped expectations. Employment rose in Britain for the first time since May 2008.
In early trading, the Dow Jones industrial average rose 33.25, or 0.3 percent, to 10,280.22, to a new 12-month high.
The broader Standard & Poor's 500 index rose 5.46, or 0.5 percent, to 1,098.47, and the Nasdaq composite index rose 13.06, or 0.6 percent, to 2,164.14.
U.S. government bond markets are closed for Veterans Day.
Crude oil rose 69 cents to $79.75 per barrel on the New York Mercantile Exchange.
Yesterday’s Top Performing Small Cap stock:
GWS Technologies, Inc. (OTC BB: GWSC) was a SmallCapVoice.com top performer yesterday closing up over % on trading volume 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.
Adventure Energy, Inc. (OTC BB: ADVE) was another SmallCapVoice.com top performer yesterday closing up over % on trading volume of shares.
Adventure Energy, Inc. is an independent energy company principally engaged in the acquisition, exploration and development of mature long-lived oil and natural gas properties. The company's current operations are concentrated in the Appalachian Basin within the states of Kentucky and West Virginia.
Today’s SmallCapVoice.com Hot Stocks to Watch:
RIVAL Technologies Inc. (OTC BB: RVTI)
RIVAL Technologies Inc. announced today that it has signed a Letter of Intent with a group of investors that will provide a $6 million financing to the company.
The funds will be used to complete engineering and construction of the first TRU process, one barrel per day, continuous feed pilot plant.
Total oil resources worldwide are estimated at roughly 9 to 13 trillion barrels, of which 30% are conventional. Oil sands, heavy oil and bitumen make up the remaining unconventional 70%. Before moving from the field to the refinery, unconventional resources will need to be upgraded and represent the prime market for the TRU process technology.
Xcellink International Inc. (OTC BB: XCEL)
Xcellink International Inc., a developer of a patented mobile payments & banking platforms, recently announced that is has executed an agreement with 3i Infotech for the development and integration of its patented software with Apple's iPhone technology.
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