Stocks slid on Friday as data that showed the manufacturing sector contracted overshadowed a stronger-than-expected reading on consumer confidence.
With the market on a strong run since the early March bear market low, investors are choosing to book some gains.
Data showed the U.S. factory sector shrank further in April, but at a slower pace, and consumers felt more confident about the economy last month than at any time since September. Also, new orders received by factories declined last month.
The Standard & Poor's 500 Index closed out its best month in nine years on Thursday, gaining 9.4 percent for April on hopes the worst was over for the financial sector and recession-hit economy.
The Dow Jones industrial average fell 64.27 points, or 0.79 percent, to 8,103.85. The S&P 500 lost 6.37 points, or 0.73 percent, to 866.44. The Nasdaq Composite Index gave up 13.75 points, or 0.80 percent, at 1,703.55.
Yesterday’s Top Performing SmallCapVoice.com stocks:
Defense Solutions Holding, Inc., (OTC BB: DFSHE) was a SmallCapVoice.com top performer moving up over 9% on trading volume of 206,940 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.
ZAGG, Inc., (OTC BB: ZAGG) was a SmallCapVoice.com top performer moving up over 8% on trading volume of 252,934 shares
Today’s SmallCapVoice.com Hot Stock to Watch:
Plastics Conversion Technologies, Inc. (Pink Sheets: GBOE)
Plastics Conversion Technologies, Inc. is pursuing a number of joint venture prospects, including the market expansion of its cleaned plastic product stream into feedstock for the hybrid energy field, as well as investigating the potential acquisition of another energy-product derivative recycling process. PCT expects that the successful acquisition of these new ventures would result in combined revenues of up to $17 million during its first eighteen to twenty-four months in operation.
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