Wall Street gave back some of its gains Tuesday as investors reassessed the market's strength a day after its biggest advance in five months.
Some pullback was to be expected after the Dow Jones industrial average jumped 498 points, or 6.8 percent, on Monday. Investors had extended a two-week rally as the government detailed a plan to take over up to $1 trillion in bad mortgage securities with the help of private investors. An unexpected rise in home sales also lifted traders' mood.
With little economic data to go on, investors will again be looking to Washington for direction. Federal Reserve Chairman Ben Bernanke and Treasury Secretary Timothy Geithner are making a rare joint appearance at a congressional hearing to testify over bonuses at American International Group Inc.
In midmorning trading, the Dow Jones industrial average fell 33.69, or 0.4 percent, to 7,742.17. Broader stock indicators also fell. The Standard & Poor's 500 index fell 5.90, or 0.7 percent, to 817.02, and the Nasdaq composite index fell 13.21, or 0.9 percent, to 1,542.56.
Yesterday’s Top Performing SmallCapVoice.com stock:
ZAGG, Inc. (OTC BB: ZAGG) was a SmallCapVoice.com top performer moving up over 17% on trading volume of 241,239 shares.
RedChip Companies, Inc. today announced that live webcasts of CEO and executive team presentations made at the 2009 RedChip Investor Conference and Health Technology Investment Forum will be available online via http://www.RedChip.com on Tuesday, March 24, 2009, beginning at 9:00 a.m. Pacific time and continuing throughout the day until 6:00 p.m. The one-day event will take place from, from 8 a.m. to 6 p.m. Pacific time on March 24th at the Le Meridien San Francisco hotel in the Financial District (333 Battery Street).
Sports Supplement Group, Inc. (OTC BB: SRSP) was a SmallCapVoice.com top performer moving up over 8% on trading volume of 71,008 shares.
SmallCapVoice.com, Inc. announced today that a new audio interview featuring Sports Supplement Group, Inc., a sales and marketing company formed to acquire brands and companies currently operating in the sports performance and weight management markets. The interview can be heard here at http://smallcapvoice.com/blog/3-19-09-audio-interview-sport-supplement- acquisition-group-otcbb-srs/.
Sports Supplement Group Inc. (Owner of ERGOPHARM Performance Nutrition) is a sales and marketing company formed to acquire brands and companies currently operating in the sports performance and weight management markets. Since its formation, Sports Supplement Group has been actively engaged in seeking out companies that management believes would integrate efficiently into its portfolio.
Today’s SmallCapVoice.com Hot Stocks to Watch:
Defense Solutions Holding, Inc. (OTC BB: DFSH)
Defense Solutions is an international project management, executive consulting, and business development firm headquartered in Exton, PA with branch and satellite offices on four continents. Established in 2001, Defense Solutions' founding corporate philosophy is to deliver the world's best solutions for our service members who deserve the best equipment, technology, and training, in performing their jobs with minimal risk to their lives and well being.
Ronn Motor Company, Inc. (Pink Sheets: RNNM)
Ronn Motor Company, Inc. announced today it will begin training in April 2009 for installation procedures for its proprietary H2GO(TM) hydrogen injection system at select AAMCO transmission locations in the Houston, Austin, Ft. Worth, New Orleans and Phoenix areas. Ronn Motors will be working closely with Doug Watkins, owner of four Houston franchises, and other AAMCO owners and association members. Together, they will finalize installation procedures and packaging for its real-time H2GO(TM) hydrogen injection system.
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