Stocks trade in narrow range following Monday’s sell-off
Wall Street showed little direction early Tuesday as investors searched for the next catalyst that could extend a two-month rally.
Stocks fluctuated in a narrow range a day after a sell-off as investors had little economic data and few earnings reports to offer direction. Some investors likely will shift attention to the government’s reports on retail sales and inflation later in the week.
Consumer spending accounts for more than two-thirds of U.S. economic activity so investors will be eager for forecasts from retailers for insight into whether the economy is stabilizing as many traders have been betting the past two months.
The market shrugged off a report showing the U.S. trade deficit rose in March for the first time since last July as sales of American exports dropped. The Commerce Department said the deficit widened to $27.6 billion in March, but that was below the $29 billion gap that economists had forecast.
In early trading, the Dow Jones industrial average rose 20.39, or 0.2 percent, to 8,439.16. The Standard & Poor’s 500 index rose 1.64, or 0.2 percent, to 910.88. But the Nasdaq composite index slipped 0.70, or 0.04 percent, to 1,730.54.
Yesterday’s Top Performing SmallCapVoice.com stocks:
American Green Group, Inc. (Pink Sheets: AMNE) was a SmallCapVoice.com top performer moving up over 132% on trading volume of 107,938,576 shares.
American Green Group, Inc. announced recently that it has decided to move forward with a 5 for 1 forward stock split instead of creating a Preferred Dividend.
The record date shall be June 1, 2009. All shareholders of record as of that date will be entitled to the forward split. The Company will work closely with its counsel, the transfer agent and DTC to make sure the split goes off without a hitch.
The Company would also like to go on record as saying that current management has no plans of doing a reverse split in the future as they see that counterproductive to the forward split. The Company will use funds generated from sales of Paradigm to announce future stock buy-backs.
Today’s SmallCapVoice.com Hot Stock to Watch:
Defense Solutions, Inc. (OTC BB: DFSH)
Defense Solutions, Inc., an international project management and executive consulting firm, a wholly owned subsidiary of Defense Solutions Holdings, Inc., announces that the Company has signed a distribution agreement with Dynamic Defense Materials, LLC, manufacturer of portable anti-ballistic and anti-blast structures. Defense Solutions will be an exclusive distributor of these portable armored wall systems called McCurdy’s ArmorTM in Iraq.
“We are excited to be the exclusive distributor of DDM’s one of a kind armor systems in Iraq,” commented Colonel Timothy Ringgold, US Army (Retired), CEO of Defense Solutions. “Defense Solutions provides quality equipment that affords superior protection on the battlefield, and we believe that DDM’s McCurdy’s ArmorTM fits that requirement. As responsibility for multiple checkpoints shifts to Iraqi Security Forces, we anticipate a significant demand for McCurdy’s ArmorTM.”
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