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 Sharply Lower Amid Fears About the Financial Sector
A growing lack of confidence following yesterday’s rescue plan by the government and a dismal performance by US regional banking stocks sparked a big sell-off in Asia that is carrying over into Europe in afternoon action. Wall Street is under heavy pressure to start the session, with shares of Fannie Mae and Freddie Mac down sharply, while growing fears about the state of the financial system put heavy pressure on the rest of the market. Washington Mutual is attempting to soothe investors and depositors, while State Street and Johnson & Johnson posted upbeat results, and Genentech raised guidance. However, US Bancorp came up a little short on the bottom line, and General Motors is detailing a restructuring plan. Meanwhile, investors will be hanging on every word of Fed Chairman Ben Bernanke’s semi-annual testimony that begins at 10 a.m. ET in front of a Senate Committee. In economic news, wholesale inflation accelerated, retail sales missed, and the Empire Manufacturing Index rose more than forecast. Treasuries are higher.
In midmorning trading, the Dow Jones industrial average dropped 180.51, or 1.63 percent, to 10,874.68.
Broader stock indicators also sank. The Standard & Poor's 500 index fell 23.46, or 1.91 percent, to 1,204.84, and the Nasdaq composite index fell 33.10, or 1.50 percent, to 2,179.77.
Treasury prices are higher as investors sought the safety of government-issued securities. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.79 percent from 3.86 percent late Monday.
Light, sweet crude fell $1.39 to $143.79 per barrel on the New York Mercantile Exchange.
Monday’s Top Performing SmallCapVoice.com stocks:
Sustainable Power Corp. (Pink Sheets: SSTP) was a SmallCapVoice.com top performer for 7/14/08 closing up over 15% on volume of 11,612,742 shares.
Sustainable Power Corp. announced today a Strategic Alliance has been formed with Envirocompanies, Inc., a Nederland, TX based company, to purchase and distribute up to 140 million gallons a day of Sustainable Power's revolutionary biocrude. Envirocompanies, Inc. is a 100% American owned logistics company, dedicated to improving the energy industry by making it green and environmentally friendly.
Today’s Hot Stock to Watch:
Capital City Energy Group (OTC BB: CWSI) is today’s SmallCapVoice.com hot stock to watch.
China Wind Systems, Inc., which through its wholly owned subsidiaries manufactures and sells industrial equipment for use in the textile and energy related industries in the People's Republic of China, announced today it has engaged Jay Wang as Senior Vice President, Finance.
In addition, SectorWatch.biz announces the availability of MarketStats for Alternative Energy equities in the news and driving markets today. MarketStats offers a perspective on the aforementioned equities and the opportunity for investors to respond with articles and opinions on the subject and sector creating a confluence of information and analysis.
Investors can view MarketStats by visiting: http://www.SectorWatch.biz -- a division of financial news hub SmallCapSentinel.com.
Today's MarketStats for alternative energy companies include China Wind Systems, Inc. (OTC Bulletin Board: CWSI), First Solar Inc. (Nasdaq: FSLR), Evergreen Solar, Inc. (Nasdaq: ESLR), Energy Conversion Devices, Inc. (ECD) (Nasdaq: ENER), and Canadian Solar Inc. (Nasdaq: CSIQ).
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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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