Investors buoyed by comments on the economy from Federal Reserve Chairman Ben Bernanke sent stocks mostly higher Monday. The Dow Jones industrials and Standard & Poor's index rose for a fifth straight day.
Bernanke said Sunday the recession would probably end this year if the government's program to boost the banking industry succeeds. But the Fed chairman also cautioned that the task of improving the banking system is a difficult one. During an interview with CBS' "60 Minutes," Bernanke said the government needs to get banks to lend more freely and get the financial markets to work more normally.
In morning trading, the Dow Jones industrial average rose 84.90, or 1.18 percent, to 7,308.88. The Standard & Poor's 500 index rose 10.02, or 1.32 percent, to 766.57, while the Nasdaq composite index fell 4.28, or 0.30 percent, to 1,427.22.
Yesterday’s Top Performing SmallCapVoice.com stock:
Capital City Energy Group, Inc. (OTC BB: CETG) was a SmallCapVoice.com top performer moving up over 11% on trading volume of 25,732 shares.
In addition to its four wholly owned subsidiaries; Avanti Energy Partners, Eastern Well Services, Capital City Petroleum and Hotwell Services, Capital City Energy Group (“CETG”) is a rapidly expanding energy company. It is an innovative leader in the design, management and sponsorship of retail and institutional direct participation energy programs and one of the few vertically integrated independent oil & natural gas companies operating today. CETG identifies and develops growth opportunities through drilling, operating, oil field service companies, acquisitions and fund management.
Today’s SmallCapVoice.com Hot Stocks to Watch:
Ronn Motor Company, Inc. (Pink Sheets: RNNM)
Ronn Motor Company, Inc. announced today that the Company has recently signed an Agreement with Frigette for the manufacturing and distribution of RMC's proprietary H2GO(TM) Real-Time Hydrogen Injection System. The Agreement was formally signed during the MACS convention held recently in Dallas, Tx.
Under the terms of the agreement, RMC would receive a royalty for each device sold through Frigette. The Ronn Motor Company business plan projects 1,000,000 units sold in the U.S. market alone over the next three years, reflecting 1/2 of one percent penetration among domestic vehicles. These sales could potentially yield over $100,000,000 in top-line revenue for Ronn Motors.
Ronn Motor Company, Inc. is a design and manufacturing company focused on the leading edge engineering of environmentally friendly, finely built premium automobiles and technology. These systems include Hydrogen Fuel, Fuel cells, and Plug in-electrics. These features, coupled with RMC's core values of a strong sense of ethics, environmental sensitivity and premium quality, positions the Company as one of the new leaders in an automotive industry transitioning toward fuel efficiency.
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