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 Gain on Positive Economic and Earnings Data
Relatively favorable economic data and upbeat reports from market bellwethers are lending supporting the broader market as traders brace for the Fed's rate decision later today. Growth in 1Q Gross Domestic Product is easing fears that the economy has entered a slump, while ADP reported an unexpected rise in private sector jobs. And the Chicago Purchasing Managers' Index showed little change and continued to signal that manufacturing activity has not registered a precipitous falloff. Meanwhile, Procter & Gamble, General Motors, Kellogg and Cummins beat the Street's profit estimates.
In midmorning trading, the Dow Jones industrial average rose 50.07, or 0.39 percent, to 12,882.01.
Broader stock indicators also advanced. The Standard & Poor's 500 index futures rose 3.95, or 0.28 percent, to 1,394.89, while the Nasdaq composite index added 6.33, or 0.26 percent, to 2,432.43.
Bond prices lifted as well. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.80 percent from 3.82 percent late Tuesday.
The dollar was mixed against other major currencies, while gold prices edged higher.
Oil prices moved higher after sliding of more than $3 a barrel in the previous session on a strengthening dollar and data showing a dramatic drop in American fuel demand. Light, sweet crude for June delivery rose 60 cents to $116.23 a barrel on the New York Mercantile Exchange.
Wednesday’s Top Performing SmallCapVoice.com stocks:
Sunovia Energy Technologies Inc. (OTC BB: SUNV) was a SmallCapVoice.com top performer for 4/29/08 closing up over 15% on trading volume of 251,195 shares.
Today’s Hot Stocks to Watch:
Kraig Biocraft Laboratories, Inc. (OTC BB: KBLB) is today’s SmallCapVoice.com’s hot stock to watch.
Kraig Biocraft Laboratories, Inc. announced today that renowned genetic researcher, inventor, and the developer of technologies related to pharmaceutical platforms, Dr. Donald Jarvis, has joined the Company's Board of Scientific Advisors.
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About SmallCapVoice.com
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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ssmith@smallcapvoice.com
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