Investors pushed stocks higher Thursday, breaking from three days of selling, as some concerns eased about the government's sweeping financial regulatory changes.
Financial shares gained in early trading after Treasury Secretary Timothy Geithner appeared before a Congressional panel to discuss details of the regulatory overhaul announced the day before by President Barack Obama.
Investors got more good news from a private sector group that said its forecast of economic activity rose more than expected in May, marking a second straight month of gains after seven months of declines.
The Conference Board's index of leading economic indicators, designed to forecast activity in the next three to six months, rose 1.2 percent, well above the 0.9 percent increase forecast by economists surveyed by Thomson Reuters.
In early trading, the Dow Jones industrial average rose 68.40, or 0.8 percent, to 8,565.58. The Standard & Poor's 500 index rose 7.64, or 0.8 percent, to 918.35, while the Nasdaq composite index rose 1.03, or 0.1 percent, to 1,809.09.
Yesterday’s Top Performing Small Cap stock:
Uranium Hunter Corporation (OTC BB: URHN) was a SmallCapVoice.com top performer moving up over 9% on trading volume of 5,420.000 shares.
Bullish Gold Sector – In times of economic turmoil, investors increase their position in precious commodities like gold. Gold is expected to stay above $1,000 per ounce through year’s end.
Investors sought safety in shares of Uranium Hunter Corporation and aggressively accumulated shares on trading volume of more than 60X normal.
Uranium Hunter Corporation is an exploration company primarily targeting the uranium and precious metal industries in the resource sector. Initially, the Company was founded with the focus of developing a portfolio of quality uranium exploration properties in East Africa. With the recent shift in economic conditions, management has decided to diversify the Company's interests to include the precious metals industry.
Uranium Hunter Corporation has entered into an agreement on May 5, 2009 to acquire a 49% interest in the Eagle Nest Mining Property (”Eagle Nest”) from Sparrowtech Resources, Inc.
A New Audio Interview Featuring Uranium Hunter Corporation President, Reno Calabrigo, is now at SmallCapVoice.com. The interview can be heard at http://smallcapvoice.com/blog/6-16-09-audio-interview-with-uranium-hunter-corporation-otcbb-urhn/.
Green Star Alternative Energy Inc. (Pink Sheets: GSAE) was a SmallCapVoice.com top performer moving up over 10% on trading volume of 23,820 shares.
Green Star Alternative Energy Inc. receives updated Speculative Buy rating with a price target of $5.70 by Beacon Analyst, Victor Sula, Ph.D.
In the report, the analyst notes GSAE’s recent filing with the SEC to become a fully reporting publicly traded entity on Nasdaq’s OTCBB.
The analyst also writes, “GSAE is evaluating various locations across Serbia as commercially viable wind farm sites and evaluating potential acquisitions to build its wind farm portfolio. …the revenue potential of GSAE’s wind energy projects is significant. The Company is pursuing opportunities to develop 300 MW of wind energy and provide clean energy to Serbia and neighboring European countries. During Q2 2009, GSAE began negotiations for a 60 MW wind energy partnership project with Vintim representing $23 million in potential gross revenues annually.”
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, announced today that it has partnered with Dominion Real Estate Partners, Inc. (DREP) to provide solutions and technology integration on alternative energy projects in Texas and Arizona.
GWS will also supply solar panels and equipment to retrofit commercial buildings operated by DREP and assist the company in applying for certification under the Commercial/Industrial Solar Energy Tax Credit Program. The primary goal of this program is to stimulate the production and use of solar energy in commercial and industrial applications by subsidizing the initial cost of solar energy devices. Tax credits can be used to offset Arizona income tax liability; any unused credit amounts can be carried forward for a five-year period.
“These incentives are continuing to drive the demand for our business,” said Richard Reincke, President of GWS Technologies, Inc. “They are making solar installations economical, and giving businesses a chance to go green with a minimal capital investment.”
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