Wall Street books some profits after four-week rally
Wall Street pulled back in early trading as investors took profits ahead of first-quarter earnings reports.
Signs of trouble in talks between IBM Corp. and Sun Microsystems Inc. also weighed on the market.
Investors have been more optimistic in recent weeks, sending the Dow Jones industrials up 22.5 percent since early March, amid improving economic data and as governments around the globe step up efforts to end the recession.
This week, investors will begin poring over first-quarter earnings for more clues on where the economy is headed -- and analysts warn that worse-than-expected reports could upset the market's advance.
Even more important than companies' results will be their forecasts for the remainder of the year. Sectors that will be in particular focus include banking, retail, technology and industrials.
Aluminum producer Alcoa Inc. kicks off earnings season on Tuesday. There are no economic reports or major earnings scheduled for Monday.
In early trading, the Dow fell 78.37, or 1.0 percent, to 7,939.22. The Standard & Poor's 500 index fell 11.94, or 1.4 percent, to 830.56, while the Nasdaq composite index fell 26.25, or 1.6 percent, to 1,595.62.
Yesterday’s Top Performing SmallCapVoice.com stocks:
Lifespan, Inc. (Pink Sheets: LSPN) was a SmallCapVoice.com top performer moving up over 18% on trading volume of 343,000 shares.
A New Audio Interview Featuring Gary Campbell, CEO and Founder of Lifespan, Inc., is now at SmallCapVoice.com. The interview can be heard here at http://smallcapvoice.com/blog/4-3-09-audio-interview-with-lifespan-inc-otcpk-lspn/.
The Lifespan Corporation was created to develop and guide feasible, economically viable business projects to a profitable and timely conclusion. Advanced Medical Devices is a project that Lifespan acquired several years ago and has been in development for over 10 years. Developments in technology and the US Healthcare industry have now reached a point where this innovative project is ready for launch. Now, medical practitioners can easily monitor and evaluate their patients by transmitting and receiving important diagnostic clinical data through the Internet, where patients can receive instant evaluation and professional interpretation of their results 24/7.
Today’s SmallCapVoice.com Hot Stock to Watch:
Omega Commercial Finance Corporation (OTC BB: OCFN)
Omega Commercial Finance Corporation is pleased to announce that the Company through BBB Developments Mexico S de R de CV has signed a letter of intent with KSI Capital to fund a minimum of 25 million dollars for the development of their Los Corales project located in Puerto Penasco, Mexico.
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