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 Rally on Drop in Oil and Wells Fargo Comments
Financials are roaring ahead and banking stocks are soaring after a smaller-than-expected drop in profits at Wells Fargo and a dividend hike are instilling confidence in the groups. Another steep sell-off in crude oil is also calming frazzled nerves and sending the market higher, but Treasuries are down and the yield curve is steepening after the Consumer Price Index posted its biggest rise in 26 years, raising worries that high crude prices may be starting to show up in the broader economy. In other news, Intel, Altera, AMR Corp., and Delta Air Lines topped the Street’s profit estimates but Seagate Technology missed.
In late morning trading, the Dow rose 133.61, or 1.22 percent, to 11,096.15.
Broader stock indicators also rose after moving in and out of negative territory. The Standard & Poor's 500 index advanced 13.44, or 1.11 percent, to 1,228.35, and the Nasdaq composite index rose 39.42, or 1.78 percent, to 2,255.13.
Bond prices declined. The yield on the benchmark 10-year Treasury note, which moves opposite its price, jumped to 3.94 percent from 3.82 percent late Tuesday.
The dollar was mixed against other major currencies, while gold prices fell.
Oil prices declined after Energy Department figures showed that domestic inventories of crude oil and gasoline rose last week, rather than declining as analysts had expected. Light, sweet crude fell $4.84 to $133.90 on the New York Mercantile Exchange, compounding a drop of $6.44 on Tuesday.
Tuesday’s Top Performing SmallCapVoice.com stocks:
Sustainable Power Corp. (Pink Sheets: SSTP) was a SmallCapVoice.com top performer for 7/15/08 closing up over 10% on volume of 10,130,234 shares.
Sustainable Power Corp. announced that it has submitted the initial application for the electrical power grid interconnection process for the Baytown Sustainable Energy and Power Center. The Baytown Sustainable Energy and Power Center is a 523 Megawatt power generation facility to be built on the Sustainable Power Corp. Baytown site, which will produce its own fuels from non-petroleum sources using the Rivera Process.
Today’s SmallCapVoice.com Hot Stock to Watch:
Mantra Venture Group Ltd. (OTC BB: MVTG) is today’s hot stock to watch.
Mantra Venture Group Ltd. announced that it has established Mantra NextGen Power Inc. ("NextGen"), a Nevada company. NextGen has been incorporated in order to develop two key technologies in power generation: renewable fuels and the solar electricity for specialty applications.
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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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