Austin, TX 3/31/2009 9:35:35 PM
News / Business

Daily Small Cap Market News and Stock Highlights from SmallCapVoice.com

Stocks rise despite record drop in home prices

Wall Street resumed its advance on the last day of the quarter as investors focused on economic data.

 

Tuesday started with news that home prices sank in January and that Chicago-area business conditions deteriorated in March. But consumer confidence data is expected to show a slight improvement in March.

 

The market is coming off a two-day pullback after rallying on better-than-expected home sales, retail sales and durable goods data. A Treasury plan for banks' toxic assets and calming remarks from the banks' CEOs also helped the Dow Jones industrial average soar 21 percent in fewer than three weeks.

 

If Wall Street can get more evidence that the economy is bottoming out, it has a better chance of making up the sharp losses logged this year. The Dow is still down 14.3 percent for 2009, but up 14.5 percent from its nearly 12-year low on March 9.

 

In early trading, the Dow Jones industrial average is up 43.73, or 0.6 percent, at 7,565.75.

Broader stock indicators also gained. The Standard & Poor's 500 index rose 4.4, or 0.6 percent, to 791.97, and the Nasdaq composite index rose 17.57, or 1.2 percent, to 1,519.37.

 

Yesterday’s Top Performing SmallCapVoice.com stock:

 

Ronn Motor Company, Inc. (Pink Sheets: RNNM) was a SmallCapVoice.com top performer moving up over 12% on trading volume of 39,160 shares.

 

Today’s SmallCapVoice.com Hot Stock to Watch:

 

Atlantic Energy Solutions, Inc. (OTC BB: AESO)

 

Atlantic Energy Solutions is a globally accredited Energy Efficiency and Resource Company and member of NAESCO that identifies, implements, and finances energy efficiency projects designed to improve the overall efficiency of energy, water usage and renewable resources, reducing our dependency on foreign oil and diminishing our carbon footprint. Headquartered in Saratoga Springs, NY and with satellite offices in Fairfield, NJ and Orlando, FL, Atlantic Energy Solutions assesses the energy demands and usages of municipal, corporate and industrial complexes to improve conservation and apply measures to bolster savings at the consumer level.

 

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