Stocks surged Wednesday, lifting the Dow Jones industrials more than 100 points, even after the government said the economy as measured by the GDP contracted at at an annual rate of 6.1 percent during the first three months of the year. That was a much steeper drop than the 5 percent forecast by economists polled by Thomson Reuters.
Though the report shows the recession has yet to loosen its grip on the country, investors are not losing hope.
The market is eager for the Federal Reserve's assessment of the economy, expected later Wednesday at the conclusion of its interest rate meeting. Investors also are curious to see if the central bank will accelerate its buying of Treasurys. After lowering its target rate to a range of zero to 0.25 percent, the Fed started buying government debt in March to try to lower rates in the market even further.
The Dow remains 22 percent above its early March lows, but stocks have been vacillating over the past several days on fears of a swine flu pandemic and ongoing concern about the health of the country's biggest banks.
In early morning trading, the Dow jumped 101.15, or 1.3 percent, to 8,118.10. The Standard & Poor's 500 index gained 11.38, or 1.3 percent, to 866.54, and the Nasdaq composite index advanced 21.56, or 1.3 percent, to 1,695.37.
Yesterday’s Top Performing SmallCapVoice.com stocks:
Defense Solutions Holding, Inc., (OTC BB: DFSHE) was a SmallCapVoice.com top performer moving up over 10% on trading volume of 53,999 shares.
Defense Solutions Holding, Inc. is headquartered in Exton, PA with branch 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.
Defense Solutions maintains exclusive agreements with various countries to deliver world-class technologies to U.S. and allied nations. Defense Solutions' principal offerings include new production and retrofit of armored vehicles, spare parts, and ammunition, supported by integrated logistics, training, and maintenance solutions.
Today’s SmallCapVoice.com Hot Stock to Watch:
Alkane, Inc. (Pink Sheets: ALKN)
Alkane, Inc. and Tilghman Oil, Inc. announced today they will partner to offer businesses and consumers an environmentally friendly, affordable premium grade diesel fuel and home heating oil.
The family owned and operated Tilghman Oil, Inc. will begin blending diesel fuel additive, Monster DieselTM, into its oil and fuel products. The addition of Monster DieselTM will effectively decrease harmful emissions and corrosion, while increasing Cetane Number, engine and system efficiency. This will benefit commercial trucking, farming, marine and residential heating customers.
Monster DieselTM is a crude oil free diesel fuel additive which reduces emissions and increases mileage per gallon by as much as 15% when added to regular diesel fuel. The result: lessened environmental impact and cost of operating diesel powered vehicles, boats, and machinery. Monster DieselTM effectively offers users a premium grade of diesel in a concentrate so powerful, it is portable. A quart of Monster Diesel™, when added to an 18-wheeler’s two tanks of regular diesel, essentially creates a premium grade fuel.
In The News: Green Star Alternatives Energy, Inc. (GSAE)
Green Star Alternative Energy, Inc. is pleased to announce the appointment of Miodrag (Mike) Andric as the Company's new Director and Chairman of the Board. Mr. Andric will also take on the positions of Chief Executive Officer and President.
Green Star Alternative Energy is an environmentally conscious, renewable energy producer. The Company is working to develop more than 300 MW (megawatts) of clean electricity through wind energy. The corporate revenue model is two-fold: the use of a renewable resource allows not only for the creation of environmentally friendly energy, but the granting of carbon (greenhouse gas) emission credits which may be traded and sold. Green Star is pursuing a significant opportunity to provide clean energy to the growing Republic of Serbia and neighbouring European countries. Through a joint venture with key wind farm and power trading company Notos, Green Star will become the nation's first developer of wind power. GSAE is focussed on green technology and sustainable energy programs like wind turbines, hydro electric power generation, and other renewable electricity models.
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