Wall Street is extending its rally as it grows more optimistic that the economy is on the mend.
The major indexes jumped more than 2 percent Thursday, and the Dow Jones industrials rose more than 200 points, as the world's finance leaders met in London to discuss efforts to fix the global economy. The G-20 ministers plan to give the International Monetary Fund $500 billion, and create stricter rules for hedge funds.
Bank stocks got an especially big boost when the Financial Accounting Standards Board relaxed rules forcing banks to value their assets at current prices. The change should help banks reduce losses.
And the Commerce Department revealed a large increase in February factory orders, following Wednesday's better-than-expected readings on pending home sales, manufacturing activity and auto sales.
There's a growing sense on Wall Street that the economy, at least stateside, might be bottoming out.
Yesterday’s Top Performing SmallCapVoice.com stocks:
Mantra Venture Group Ltd. (OTC BB: MVTG) was a SmallCapVoice.com top performer moving up over 36% on trading volume of 55,920 shares.
Mantra’s stock surged up over 36% on strong volume on the heels of signing a $3.5 Million Development Project with a Korean Engineering Company
Mantra Venture Group Ltd. announced that it has just signed a Memorandum of Understanding (MOU) with Bluebird Co. Ltd. (Bluebird), an environmental engineering company based out of Seoul, Korea. Under the terms of the MOU, Bluebird will become an integral partner in the development, deployment and eventual commercialization of Mantra's Electro-reduction of Carbon Dioxide Technology in various territories within Asia.
Omega Commercial Finance Corporation (OTC BB: OCFN) was a SmallCapVoice.com top performer moving up over 76% on trading volume of 122,300 shares.
Omega Commercial Finance Corporation, through its subsidiary, Omega Capital Funding LLC, offers financing for real estate markets in the United States. The company provides short and medium term loans to borrowers primarily consisting of commercial real estate developers and speculators, business owners, landlords, and owners of core and non-core assets. It focuses on various alternative commercial real estate financings with an emphasis on loans secured by commercial real estate and also on financing non-core assets, including ground up developments and un-entitled land developments, as well as core assets, including office buildings, multi-family residences, shopping centers, and luxury residential estates. The loans consist of senior debt loans, mezzanine or subordinated loans, preferred equity, and other equity participation financing structures.
Today’s SmallCapVoice.com Hot Stock to Watch:
GWS Technologies, Inc. (OTC BB: GWSC)
GWS Technologies, Inc., an alternative energy company developing renewable energy solutions, today announced that it has entered into a strategic partnership and joint venture with Sustainable Eco-Green Development Company, Inc. (SEDCO) to develop a Green Industrial Park on approximately 1,000 acres adjacent to the Phoenix-Mesa Gateway Airport in Mesa, Arizona. GWS will provide equipment and technology integration on the project, with initial cost estimates for solar equipment expected to exceed $4 million. Design work is underway for a ground-based solar power plant which will provide temporary power to the site and will ultimately be relocated as project construction begins to become a permanent rooftop solar power plant, supplying electricity to the Green Park.
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