Austin, TX 4/21/2008 9:31:06 PM
Daily Small Cap Market News and Stock Highlights from SmallCapVoice.com
Stocks Are Lower After Bank of America Reports Poor Numbers
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 Are Lower After Bank of America Reports Poor Numbers
Profit taking and poor numbers from Bank of America are putting early pressure on the market, and oil is trading above $117 per barrel. Investors are looking forward to another round of economic and earnings reports this week. The mood on the Street improved considerably last week after a group of favorable profits released eased worries, and traders will be closely monitoring another batch of earnings this week. Housing will also be in the spotlight amid signs that existing homes sales may be nearing a bottom. Meanwhile, Merck and Arch Coal beat the Street's profit estimate, Eli Lilly missed, and National City may be set to receive a capital infusion.
In the first hour of trading, the Dow fell 59.35, or 0.46 percent, to 12,790.01.
Broader stock indicators also declined. The Standard & Poor's 500 index fell 4.99, or 0.36 percent, to 1,385.34, and the Nasdaq composite index fell 6.83, or 0.28 percent, to 2,396.14.
Bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.77 percent from 3.70 percent late Friday.
The dollar was mixed against other major currencies, while gold prices rose.
Light, sweet crude fell 12 cents to $116.57 per barrel in premarket electronic trading on the New York Mercantile Exchange. Oil jumped to a record $117.40 per barrel after a rocket struck a Japanese oil tanker near Yemen and as militants in Nigeria said they had attacked pipelines. An OPEC official said over the weekend that the group isn't likely to increase production also supported prices.
Friday’s Top Performing SmallCapVoice.com stocks:
Silver Dragon Resources Inc. (OTC BB: SDRG) was a SmallCapVoice.com top performer for 4/18/08 closing up over 13% on trading volume of 338,609 shares.
Today’s Hot Stocks to Watch:
Hybrid Technologies, Inc. (OTC BB: HYBR) is today’s SmallCapVoice.com’s hot stock to watch.
SmallCapVoice.com, Inc. today announced a new audio interview featuring, Dale J. Pinkert, consultant to Hybrid Technologies, Inc. Hybrid Technologies, Inc., is an emerging leader in the development and marketing of lithium-powered products worldwide. The Company is currently involved with lithium-powered autos, as well as other lithium-powered products, like motorcycles, various military applications and even homes. The interview can be heard here at http://www.smallcapvoice.com/hybr/hybr-4-18-08.php.
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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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