Stocks slipped on Wednesday after ISM data showed the U.S. services sector grew in December, but at a marginal pace, and a report said the rate of job losses slowed at U.S. private employers.
The Institute for Supply Management said its services index rose to 50.1 in December from 48.7 in November. The reading was below economists' forecast of 50.5, according to a Reuters survey. A reading above 50 indicates expansion.
The non-farm payrolls report from the U.S. Labor Department is due on Friday, with economists now forecasting 8,000 jobs lost overall in December versus the 11,000 lost in November.
Earlier data on Wednesday in the ADP Employment Services report, a precursor to Friday's payrolls report, showed a smaller-than-expected slowdown in job losses in December.
The Dow Jones industrial average dipped 7.26 points, or 0.07 percent, to 10,564.69. The Standard & Poor's 500 Index shed 1.08 points, or 0.10 percent, to 1,135.44. The Nasdaq Composite Index slipped 7.13 points, or 0.31 percent, to 2,301.58.
Yesterday’s Top Performing Small Cap stocks:
Kender Energy Inc. (Pink Sheets: KNDR) was a SmallCapVoice.com top performer yesterday closing up over 5% on trading volume of 150,357 shares.
Kender Energy Inc. is a development phase company active in the field of solar energy. Its present prototypes of solar panels are being developed into a full-scale solar energy production system. The particularity of the Kender solar panel system and technology is to allow, via a closed circuit of gas (usually helium), to create a heat exchange with the sunlight and the air from the environment. The exchange generates the spinning of the helium gas in the closed circuit, propelling a turbine, which produces electricity in a 100% clean and renewable process. The system's main advantages are that it is efficient, cheap in production, and modular.
Today’s SmallCapVoice.com Hot Stocks to Watch:
GWS Technologies, Inc. (OTC BB: GWSC)
GWS Technologies, Inc., an alternative energy company developing renewable energy solutions, announced today that it has added Nick Harbaugh to serve as an advisory board member. Mr. Harbaugh’s expertise will be utilized for developing the company’s commercial solar retrofit business, as well as to identify and acquire new green products and technologies.
“Mr. Harbaugh brings significant construction management and expertise to our advisory board,” said GWS President Richard Reincke. “His extensive experience in providing construction services to major retailers coupled with his knowledge of the remodeling and retrofitting industry will provide us with a tremendous opportunity to introduce our solar retrofit package for commercial applications into the emerging sustainable construction marketplace,” Mr. Reincke added.
BioMedical Technology Solutions Holdings, Inc. (OTC BB: BMTL)
BioMedical Technology Solutions, Inc. announced that it has placed the Demolizer II, its innovative biomedical waste treatment system, in two important tribal communities, Nez Perce's NiMiiPuu Health in Idaho and the Poarch Band of Creek Indians in Alabama. The System provides a safe, secure, and environmentally sound means to manage sharps and blood-saturated waste while reducing costs associated with traditional hauling services.
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