SmallCapVoice.com, Inc., a recognized corporate consulting firm known for its ability to help emerging growth companies build a following among retail and institutional investors, provides the following market commentary and small cap stock highlights:
Stocks Lower Amid Economic Worries
Stocks have climbed off the lows of the day but remain solidly to the downside after jobless claims surged, signaling that the labor market and the economy may be weakening. Consumer spending slowed sharply in December and the weakness has added to the gloomy outlook on the Street. Initial pressure on the Nasdaq Composite from Amazon.com has abated somewhat after a drop in margins is being offset by an otherwise upbeat earnings report, while MBIA reported a big loss and said it is looking for more ways to raise capital. Procter & Gamble, Owens-Illinois, CVS Caremark, and MasterCard beat the Street's profit estimates, Peabody Energy missed, and losses at Pulte Homes widened. In other news, the Chicago Purchasing Managers' Index fell more than forecast. Stocks in
In midmorning trading, the Dow Jones industrial average fell 66.33, or 0.53 percent, to 12,376.50. The Dow had been down more than 190 points in early trading. Broader indexes also fell. The Standard & Poor's 500 index fell 8.68, or 0.64 percent, to 1,347.13, and the Nasdaq composite dropped 12.25, or 0.52 percent, to 2,336.75.
Government bond prices rebounded as stocks fell. The 10-year Treasury note's yield fell to 3.61 percent from 3.63 percent late Wednesday.
The dollar was mixed against most major currencies, and gold prices rose.
Oil prices slid after Wall Street's decline and a report that
Copper King Mining Corporation announced today that the company has acquired 100% ownership of Western Utah Copper Company.
The merger brings together 2 very good assets which combined total over 92,000 acres of mining claims, a line of mining equipment including but not limited to core drills, back hoes, crawlers, mining trucks, blasting equipment, fuel trucks, and dozers. The company has to date removed over 1,600,000 tons of overburden on their Hidden Treasure. Removal of the overburden has produced in excess of 200,000 tons of ore, some of which is extremely high-grade ore to be processed in the company's new state of the art milling facility, that when completed will be capable of processing 2,500 short tons of ore per day. The companies’ assets include numerous copper deposits that contain gold and silver. The gold and silver is a substantial credit to the copper ore and when compared to other copper deposits worldwide, some of which have no gold and silver at all, is very substantial.
The estimated life of the combined assets of the companies is over 300 years.
The new company will retain the name Copper King Mining Corporation and management of Western Utah Copper will become the management team of the new company.
Today’s Hot Stocks to Watch:
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