Investors grew more upbeat about the economy Monday after retail sales rebounded more than expected in October on higher auto sales.
The stock market's gains followed advances overseas propelled by a weakening dollar and stronger gold prices, which boosted commodities and shares of companies that produce raw materials.
The Commerce Department said retail sales rose 1.4 percent in October, easily surpassing the 0.8 percent increase forecast by economists polled by Thomson Reuters. It was a sharp rebound following the 2.3 percent drop in September. Excluding the gain from autos, however, sales rose just 0.2 percent, half of what economists predicted.
In late morning trading, the Dow rose 126.29, or 1.2 percent, to 10,396.76. The Standard & Poor's 500 index rose 16.53, or 1.5 percent, to 1,110.01, while the Nasdaq composite index rose to 28.76, or 1.3 percent, to 2,196.64.
Yesterday’s Top Performing Small Cap stock:
Qualsec (OTC BB: QLSZ) was a SmallCapVoice.com top performer yesterday closing up over 4% on trading volume 15,600 of shares.
Qualsec's wholly-owned subsidiary, VitaminSpice, has recently entered into several distribution agreements expanding distribution into parts of the east and west coasts. The VitaminSpice product line will be sold over several internet portals as well as in store shelves.
VitaminSpice is uniquely positioned between the $100 billion health food/vitamin supplement industry and the multi-trillion-dollar traditional food industry. A pioneer in the emerging foodceutical industry, VitaminSpice sells vitamin- mineral- and antioxidant-infused spices and food products. Their offerings currently include Crushed Red Pepper, Ground Black Pepper, Sea Salt, Italian Seasoning, Ground Cinnamon and Granulated Garlic. A proprietary micro-encapsulation process keeps the vitamin properties locked inside--even when heated--allowing the food products to retain their full flavor.
Today’s SmallCapVoice.com Hot Stocks to Watch:
Rival Technologies Inc. (OTC BB: RVTI)
Rival Technologies Inc. is pleased to announce that through our Colombian business partner, we are working towards commercialization of our proprietary heavy oil upgrading process with the largest Colombian oil company, Ecopetrol (USD $54 billion market cap.).
Previously announced technical due diligence completed by Ecopetrol has moved discussions towards completing a contractual arrangement for the purchase of a continuous feed pilot plant utilizing the TRU(R) technology. The contract will put the TRU(R) process at the forefront of an initiative to achieve increased production goals. Negotiations are expected to conclude with a contractual agreement soon.
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