Stephen Bernard, AP Business Writer
Stocks waver ahead of Federal Reserve decisions
Traders avoid big moves as they wait to see if Fed will restart bond buying program
NEW YORK (AP) — Investors held back from making big moves in the stock market Tuesday as they waited to see if the Federal Reserve might take new actions to stimulate the economy.
The uncertainty has put a big September rally on hold before the central bank’s meeting wraps up Tuesday afternoon.
The Dow Jones industrial average fell 4.85, or 0.1 percent, to 10.748.77 in morning trading, a day after closing at a four-month high. The Dow has risen 12 of the past 14 days and is up more than 7 percent for the month.
The Standard & Poor’s 500 index slid 1.11, or 0.1 percent, to 1,141.60, while the Nasdaq composite index fell 4.70, or 0.2 percent, to 2,351.13.
Stocks have rallied throughout the month on signs that the economy continues to grow, even though the expansion remains sluggish. In the latest positive signal, the Commerce Department reported that home construction rose last month to the highest level since April.
Yesterday’s Top Performing Small Cap Stock:
Curaxis Pharmaceutical Corp. (OTCBB: CURX)
Curaxis Pharmaceutical Corp. was a SmallCapVoice.com top performer closing up over 6% on trading volume of 46,401 shares.
Curaxis Pharmaceutical Corp CEO Patrick S. Smith Comments on Recent Alzheimer’s Disease Research
DURHAM, N.C., Sept. 21, 2010 (GLOBE NEWSWIRE) — Patrick S. Smith, President and Chief Executive Officer of Curaxis Pharmaceutical Corp (OTCBB:CURX), today commented on significant new research in the search for an effective treatment for those suffering from Alzheimer’s disease. The research titled “The Alzheimer’s Disease –Associated Amyloid B-Protein Is an Antimicrobial Peptide,” was published by PLoS ONE, an international, on-line publication.
Stephen Bernard, AP Business Writer
Stocks waffle after mixed news on manufacturing
Stocks drift as a September rally weakens; Mixed signals on manufacturing
NEW YORK (AP) — Stocks are mixed as a rally that drove the market sharply higher in September appears to be running out of gas.
Major indexes are fluctuating throughout Wednesday as investors reconcile a poor reading on manufacturing activity in New York with a separate report showing that U.S. industrial production grew.
European markets are falling, but Japanese stocks surged after the country’s government stepped in to weaken the yen.
The Dow Jones industrial average is up 30, or 0.3 percent, at 10,557. The S&P 500 is up less than 1 at 1,121, while the Nasdaq composite is up 3, or 0.1 percent, at 2,293.
Even with indexes higher, declining stocks are outpacing those rising on the New York Stock Exchange. Volume was 300 million shares.
Yesterday’s Top Performing Small Cap Stock:
Curaxis Pharmaceutical Corp. (OTCBB: CURX)
Curaxis Pharmaceutical Corp. was a SmallCapVoice.com top performer closing up over 7% on trading volume of 45,433 shares.
HENDERSON, NV, Sept. 15 /PRNewswire-FirstCall/ – Kore Nutrition Incorporated (“Kore” or the “Company”) (OTCBB: KORE) and the Company’s wholly owned subsidiary, Go All In, Inc. (“ALL IN”), are pleased to announce the addition of ALL IN Energy Lollipops to their current product line in the market.
Similar to ALL IN’s Energy Drinks, the Company’s Lollipops will have zero sugar, zero caffeine, and zero preservatives. The Company will initially launch three distinct flavors: Grape, Green Apple and Watermelon, that provide a health-energy alternative to current products on the market.
Julie Pace, Associated Press Writer
Obama to pitch trio of economic proposals in Ohio
Obama to pitch trio of economic proposals, draw contrast with Republicans’ agenda
WASHINGTON (AP) — President Barack Obama is voicing unwavering opposition to extending Bush-era tax breaks for the nation’s wealthiest families even for a year or two, drawing a sharp contrast with Republicans eight weeks before the November elections.
The president was to outline his stand Wednesday in a speech in Cleveland, where he also will propose a package of infrastructure investments and business tax incentives that the White House says will put the economy on a path toward long-term growth while allowing for some immediate job creation.
The Bush tax cuts, the most sweeping in a generation, are due to expire in January, setting up a big fight in Congress over what to do about them. Republicans and some Democrats want them to remain in place for a year or two or to make them permanent. Obama wants to make the tax cuts permanent for middle- and low-income families while allowing them to expire for individuals making more than $200,000 and married couples making more than $250,000.
The White House sees the issue as an opportunity to appeal to middle-class voters and independents who were crucial to Obama’s election. In his speech, Obama will argue that the tax cuts for the wealthy would add $700 billion to the deficit, a sum the country can’t afford as the economy struggles to recover.
Yesterday’s Top Performing Small Cap Stock:
Suffer (Pink Sheets: ENTK)
Suffer was a SmallCapVoice.com top performer closing up over 40% on trading volume of 10,000 shares.
HENDERSON, NV, Sept. 8 /PRNewswire-FirstCall/ – Kore Nutrition Incorporated (“Kore” or the “Company”) (OTCBB: KORE) and the Company’s wholly owned subsidiary, Go All In, Inc. (“ALL IN”) are pleased to announce a new distribution agreement with PPNC Distributing Co. of Placentia, California (“PPNC”). ALL IN Energy products have been accepted for distribution to over 400 grocery stores in Southern California.
PPNC has serviced the inland area of Southern California for five years and has built and maintained a strong and growing distribution business in dry good and specialty food products.
With a client list including convenience stores and markets in close proximity to major casino distribution hubs currently being established, PPNC will play an integral role in ALL IN’s Southern California growth plan.
Stephen Bernard, AP Business Writer
Stocks fall on fresh European bank concerns
Stocks retreat to kick off holiday-shortened week following European bank worries
NEW YORK (AP) — Fresh worries about European banks sent stocks lower Tuesday. Treasury prices rose as investors sought out safe places to park their money.
The Dow Jones industrial average fell about 67 points, getting the holiday-shortened week off to a weak start.
With little economic news in the U.S. following the Labor Day weekend, traders were focused on developments overseas.
European stocks fell following news reports that banks there may have more risky government debt on their books than was disclosed during “stress tests” earlier this year. That could mean fees from regulators and more capital-raising by the banks to bolster their balance sheets.
“The soundness of stress tests are, and continue to be, in question,” said Brian O’Reilly, president of the Collingwood Group. Uncertainty about the tests could be a drag on the market until European regulators provide some more transparency about exactly what figures were included in the test, O’Reilly said.
Yesterday’s Top Performing Small Cap Stock:
Convenience TV Inc. (OTCBB: CRPZ)
Convenience TV Inc. was a SmallCapVoice.com top performer closing up over 16% on trading volume of 92,500 shares.