Quality Stock’s Daily Stock Report 5/10/07

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After taking a breather Tuesday, stocks got back on the buying track today and lifted the Dow to yet another record high. More M&A speculation and falling oil prices were the initial sources of market support.

The absence of any surprises in today's Fed statement helped clear the way for several weeks of underlying bullish momentum to resurface.

Per usual, all eyes were anxiously fixed on today's FOMC meeting. As expected, policy makers left rates unchanged at 5.25% for a seventh straight time. The accompanying policy directive was also little changed from the prior statement, suggesting that rates are likely to stay steady for the foreseeable future.

Even though the report did not imply a rate cut anytime soon, the mere culmination of the meeting removed the latest headwind and excuse for sellers to keep questioning current valuations in a market awash in liquidity

With regard to ongoing speculation about further deal-making, Rio Tinto reportedly being eyed by BHP Billiton in a deal that could top $100 billion which would help power the Materials sector higher even though Rio Tinto shot down such speculation.

Alltel reportedly being targeted by three private-equity consortiums as a potential $25-30 billion takeover was another. Alltel's 2.0% surge helped vault Telecom to the day's number one spot

Rarely does M&A news, rumored or not, fail to give brokerage stocks a boost. Financials was another bright spot today as was the Industrials sector. Both turned in similar gains of 0.6%.

Technology was also in focus Wednesday, but initially for negative reasons. Cisco Systems a suggested holding in the Briefing.com Active Portfolio, beat analysts' forecasts Tuesday night; but its Q4 sales guidance left the market wanting more.

The Energy sector's ability to withstand another pullback in oil prices was also noteworthy. Crude for June delivery fell 1.1% to a seven-week low of $61.55/bbl after the Energy Dept. reported the first build in gasoline supplies in 13 weeks.

And now for our smallcap news brought to you by QuoteMedia, Inc.

Orsus Xelent Technologies, Inc. announced today that its common shares have been approved for listing on the American Stock Exchange, and will begin trading on 5/10/07 under the symbol (ORS) The company also announced in March that the company is contract to sell 10,000 model X180 handsets to BOC International (China) Limited.

This is the second major contract announced by the company in 2007 to sell the Specialized Application Devices which use the China Unicom CDMA-1X wireless data network.

Pressure BioSciences, Inc. announced yesterday that its Barocycler NEP3229 instrument has been issued a CB Scheme Test Certificate certifying that it meets the required compliance with the IEC 61010-1 safety requirements for electrical equipment for laboratory use.

Pressure BioSciences, Inc. engages in the development of a novel, enabling technology called Pressure Cycling Technology (PCT). PCT uses cycles of hydrostatic pressure between ambient and ultra-high levels to control bio-molecular interactions.

The company starts its day at $5.40 cents a share

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