The stock market fell Friday as a rise in the dollar hit commodity prices and JPMorgan Chase & Co.'s fourth-quarter revenue came in weaker than expected.
The drop in stocks comes as major stock indexes stand at 15-month highs and as stocks in Europe fall.
Meanwhile, the government said inflation was tamer than expected last month. The Labor Department said the consumer price index rose a modest 0.1 percent, bringing inflation for all of 2009 to a mild 2.7 percent.
In the first hour of trading, the Dow Jones industrial average fell 47.84, or 0.5 percent, to 10,662.71. The broader Standard & Poor's 500 index fell 5.78, or 0.5 percent, to 1,142.68, and the Nasdaq composite index fell 10.21, or 0.4 percent, to 2,306.53.
Bond prices rose, pushing yields lower. The yield on the benchmark 10-year Treasury note fell to 3.67 percent from 3.74 percent late Thursday.
Yesterday’s Top Performing Small Cap stocks:
VitaminSpice, LLC (OTC BB: VTMS) was a SmallCapVoice.com top performer yesterday closing up over 19% on trading volume of 264,901 shares.
VitaminSpice, LLC has joined hands with Amdistco for co-branded products with the popular cooking show, Iron Chef America. The companies will offer a line of co-branded seasonings and dessert toppings. Initially, there are plans to launch several blended seasoning packs formulated with VitaminSpice's proprietary microencapsulated multi-vitamins.
The arrangement will be managed by American Distribution Company (Amdistco.com), which also holds the license for other prominent licensors. The process to bring this special co-branded mix to the market has already gone through several months of discussions. Labeling for the packaging has already been created for each of the Iron Chef America/VitaminSpice multi-packs to hit the market soon.
Ed Bukstel, President of VitaminSpice, said, "This is a really promising partnership. From the loyal viewer following the original Iron Chef to the press they're receiving for the Super Chef Battle at the White House, they're constantly reinventing themselves. It's a great fit for an innovative product like VitaminSpice."
Today’s SmallCapVoice.com Hot Stock to Watch:
Lux Energy Corp. (OTC BB: LUXE)
Lux Energy Corp. has recently acquired an added working interest in the Barrhead production reservoirs located in West Central Alberta. These reservoir locations were initially explored and developed as natural gas plays. The most recent development well drilled for its' natural gas potential encountered a oil reservoir. The operator has advised that this oil zone is flowing at 40 barrels of high gravity crude per day including the gas cap which is producing at 320 mcf.
Shane Broesky, President, reiterated comments from the operator stating that this was an unexpected result whereby this well is capable of producing at these rates and that the structure has not been stimulated. He continues to mention that this oil zone may very well extend to adjacent drilling targets. Well logs and further testing will give us an abundance of geological information to exploit this discovery.
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