Austin, TX 11/19/2009 12:30:33 AM
News / Business

Daily Small Cap Market News and Stock Highlights from SmallCapVoice.com

Stocks are lower as an unexpected drop in home construction raised concerns about the pace of the economy's recovery

The Commerce Department said construction of homes and apartments fell 10.6 percent in October to an annual rate of 529,000, well below the pace of 600,000 that economists polled by Thomson Reuters had predicted.

 

Building permits, a key indication for future activity, slid 4 percent to an annual rate of 552,000, also below the rate of 580,000 that analysts had forecast.

 

There was little reaction to a report that found inflation at the retail level remained tame as rising unemployment, nervous consumers and tight credit keep prices stable.

 

The Labor Department said consumer prices rose 0.3 percent in October, slightly above the 0.2 percent economists expected. Core inflation, which excludes volatile energy and food prices, rose 0.2 percent, compared to expectations of a 0.1 percent rise.

 

A report released Tuesday on prices at the wholesale level showed rapid inflation was not imminent, supporting comments from Federal Reserve Chairman Ben Bernanke's earlier in the week.

 

In midmorning trading, the Dow Jones industrial average fell 70.82, or 0.7 percent, to 10,366.60. The Standard & Poor's 500 index fell 5.77, or 0.5 percent, to 1,104.55, while the Nasdaq composite index fell 19.35, or 0.9 percent, to 2,184.43.

 

Yesterday’s Top Performing Small Cap stock:

 

GWS Technologies, Inc. (OTC BB: GWSC) was a SmallCapVoice.com top performer yesterday closing up over 13% on trading volume of 29,214 shares.

 

GWS stands for GreenWindSolar. We are a renewable energy technology company developing and marketing solar and wind-powered renewable energy products and solutions. Our products and solutions are part of the new micro-generation movement that is transforming the way businesses and consumers provide for their energy needs. The company was founded in 2005 and is headquartered in Scottsdale, Arizona.

 

Today’s SmallCapVoice.com Hot Stocks to Watch:

 

Lucas Energy, Inc.  (AMEX: LEI)

 

Lucas Energy, Inc. (NYSE Amex:LEI), an independent oil and gas company based in Houston, Texas reported yesterday financial results from operations for second quarter of fiscal year 2009-2010.

 

Mr. William Sawyer, CEO of Lucas Energy said, "We are happy to announce the return to positive EBITDA for the fiscal second quarter. The current quarter returns this trend to positive EBITDA and positive cash flow from operations and we are seeing higher production and strong oil prices. This combined with our focus on keeping lease operating expenses down will result in an even better third quarter. Our joint interest drilling program is in full swing and we are looking forward to the rest of the 2009-10 fiscal year with forecasted increased volumes and increased profitability ongoing."

 

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