Lowered expectations for the global economy are giving investors more to be wary about.
The major stock indexes retreated more than 1 percent in early trading Monday after the World Bank added to the market’s growing economic worries. The Washington-based global lender predicted that the world economy will shrink 2.9 percent in 2009. That estimate was worse than its previous forecast for a 1.7 percent decline.
The stock market is coming off its first weekly loss in more than a month after mixed economic readings last week deflated hopes for a quick U.S. recovery. No major economic reports are due Monday, but later in the week traders will get data on new and existing home sales, durable goods orders, gross domestic product and personal incomes and spending.
The Federal Reserve will also be in the spotlight after its two-day meeting on monetary policy that ends Wednesday. The central bank is expected to hold its key fed funds rate steady near zero, but investors want to know whether policy makers will buy more Treasury bonds than they initially planned to help keep interest rates down.
The Fed has been buying government debt at the same time the Treasury Department has been issuing record amounts of government debt. The Treasury is planning to auction $104 billion in debt this week.
In early trading, the Dow Jones industrial average fell 105.50, or 1.2 percent, to 8,434.23. The Standard & Poor’s 500 index fell 14.30, or 1.6 percent, to 906.93, and the Nasdaq composite index fell 29.80, or 1.6 percent, to 1,797.67.
Yesterday’s Top Performing Small Cap stock:
Safeguard Security Holdings, Inc. (Pink Sheets: SSHS) was a SmallCapVoice.com top performer moving up over 8% on trading volume of 1,324,255 shares.
Through its operating subsidiaries and divisions, Safeguard is a single source security solutions provider, integrating technical and physical security assets. The company is organized along three distinct lines of business: Technical Systems, Security Personnel and Security Outsourcing Solutions.
Today’s SmallCapVoice.com Hot Stock to Watch:
GWS Technologies, Inc. (OTC BB: GWSC)
Last week GWS Technologies announced plans for a new solar farm in the Phoenix area as well as 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.
The market reacted strongly to both press releases driving GWSC significantly higher on strong volume. The recent breakout in price and volume for GWS Technologies continues to garner serious market attention.
To get small cap and OTC stock quotes, company news, and much more please visit www.smallcapvoice.com. Don’t forget to sign up for our complimentary newsletter. Our newsletter comes out once a day in the morning and features great small cap stock news, audio interviews, investor fact sheets on quality small cap stocks and more. We will never share your email address and we use Constant Contact, the industry standard for ethical email distribution. This provider makes it just as easy to opt-out as it is to opt in guaranteed!
About SmallCapVoice.com
SmallCapVoice.com is a recognized corporate investor relations firm, with clients nationwide. Known for its ability to help emerging growth companies build a following among retail and institutional investors, SmallCapVoice.com utilizes its stock newsletter to feature its daily stock picks, audio interviews, as well as its client’s financial news releases. SmallCapVoice.com also offers individual investors with all the tools they need to make informed decisions about the stocks they are interested in. Tools like our stock charts, stock alerts, and our investor fact sheets can assist with investing in stocks that are traded on the OTC BB and Pink Sheets.
Small Cap Voice SCV is an electronic publication, and is for informational purposes only. The stocks profiled by SCV are only company profiles and are not intended to be and should not be accepted by you as recommendations to buy or sell in these securities. These profiles are compiled from publicly available sources. Our sources include, but are not limited to, online research, company profiles, member suggestions, magazines, newspapers, analyst suggestions, broker recommendations, contact with the company, company rumors, press releases and other similar information sources. All profiles are based on information that is accessible by the public. Investing in stocks involves risk. SCV is not and does not hold itself out to be a registered broker or dealer or other licensed securities professional. You should consult a qualified, licensed financial advisor or stock broker before making any decisions to invest in the securities of any company that is described in these profiles. For compensation and complete disclaimer click here.
Contact:
Stuart T. Smith
CEO
512-267-2430
ssmith@smallcapvoice.com
http://www.smallcapvoice.com