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 Reverse Early Losses on IBM Repurchase Program
Stocks are building on midmorning gains after a new repurchase program announced by IBM bolstered sentiment that had taken a hit from a bigger-than-expected rise in the Producer Price Index and a drop in consumer confidence to the lowest level in five years. Damage caused by the worrisome inflation report was only modest, however, suggesting the Street still anticipates the Fed will remain focused on downside economic risks. In equity news, a slew of retailers reported results today. Nordstrom, Target, Macy's, and AutoZone managed to top reduced-profit expectations, Home Depot missed and offered a sluggish outlook, and Office Depot came up shy on the bottom line.
In midday trading, the Dow Jones industrial average rose 130.17, or 1.04 percent, to 12,700.39, after declining in earlier trading.
Broader stock indicators also advanced with the Standard & Poor's 500 index up 11.92, or 0.87 percent, to 1,383.72, and the Nasdaq composite index up 25.07, or 1.08 percent, to 2,352.55.
Government bonds rose. The yield on the benchmark 10-year Treasury note slipped to 3.88 percent from 3.91 percent late Monday.
The Conference Board's index of consumer confidence plunged in February to 75.0 from a revised 87.3 in January. The reading was the lowest since the index registered 64.8 in February 2003, and came in far below analysts' average estimate. Though the report is not a perfect predictor of consumer spending, it suggests Americans are watching their budgets.
Meanwhile, the latest wholesale inflation report showed headline producer prices rising by a full 1 percent in January, driven up by higher energy prices and soaring food costs.
The dollar fell against most other major currencies. Gold prices edged higher.
Monday’s Top Performing SmallCapVoice.com stocks:
The world's first and only dairy that is manufacturing bottles made from corn (PLA bottles) in its dairy processing production plant, announced last week that the Company is projecting that FY 2008 sales will substantially exceed FY 2007 sales.
Today’s Hot Stocks to Watch:
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SmallCapVoice.com is a recognized corporate investor relations firm, with clients nationwide. Known for its ability to help emerging growth companies build a following among retail and institutional investors, SmallCapVoice.com utilizes its stock newsletter to feature its daily stock picks, audio interviews, as well as its client's financial news releases. SmallCapVoice.com also offers individual investors with all the tools they need to make informed decisions about the stocks they are interested in. Tools like our stock charts, stock alerts, and our investor fact sheets can assist with investing in stocks that are traded on the OTC BB and Pink Sheets.
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