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 Move Higher on Positive Durable Goods Report
Despite a rise in crude oil due to concerns that Tropical Storm Gustav might hit
The Commerce Department said orders for durable goods jumped 1.3 percent in July compared to the previous month, led by a big increase in demand for commercial aircraft. That was well above the 0.1 increase expected by economists surveyed by Thomson/IFR.
In early trading, the Dow Jones industrial average rose 70.59, or 0.62 percent, to 11,483.46.
Broader stock indicators rose. The Standard & Poor's 500 index rose 7,52, 0.59 percent, to 1,279.03, and the Nasdaq composite index rose14.67, or 0.62 percent, to 2,376.64.
Bonds fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.82 percent from 3.78 percent late Tuesday. The dollar was mixed against other major currencies, while gold prices rose.
Light, sweet crude rose $2.55 a barrel to $118.82 on the New York Mercantile Exchange.
Tuesday’s Top Performing SmallCapVoice.com stocks:
Today’s SmallCapVoice.com Hot Stock to Watch:
Capital City Energy Group, Inc. (OTC BB: CETG) is today’s hot stock to watch.
Capital City Energy Group, Inc. announced today that it has appointed David A. Tenwick to its Board of Directors. Mr. Tenwick is currently the Chairman of Adcare Health Systems, Inc. (AMEX: ADK), a long-term care, home care and management company, an attorney and was the co-founder of a publicly-traded energy company that invested in oil and gas properties.
Mr. Tenwick founded Adcare Health Systems in 1991. Prior to founding Adcare, he was an independent business consultant from 1982 to 1990, where he served as a director and an officer of several businesses, including Douglass Financial Corporation, a surety company, and AmeriCare Health & Retirement, Inc., a long-term care management company. From 1967 until 1982, Mr. Tenwick was a co-founder and director of Nucorp Energy, Inc., a publicly-traded energy company that invested in oil and gas properties and commercial and residential real estate. Prior to founding Nucorp, he was an enforcement attorney for the United States Securities and Exchange Commission.
“I am pleased that Dave has accepted an appointment to our Board of Directors,” said Timothy W. Crawford, Capital City Energy Group’s Chief Executive Officer. “He has extensive experience as a director of small publicly-traded companies, and the expertise of investing in oil and gas properties, which will benefit Capital City Energy Group as it develops its own properties and grows through acquisition.”
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