Matthew Craft, AP Business Writer
Stock market moves higher after a two-day slump
Stronger payroll report, earnings send stock indexes higher; MasterCard jumps 8 percent
NEW YORK (AP) — Stocks rose sharply in early trading Wednesday, a day after renewed worries over Europe’s debt crisis roiled markets around the world. Strong corporate earnings and a better employment report helped turn markets around.
The Dow Jones industrial average jumped 209 points, or 1.8 percent, to 11,867 as of 11 a.m. Eastern. The Dow lost 573 points the previous two days after the brokerage MF Global collapsed and Greece’s prime minister surprised markets and his own government with a call to put unpopular austerity measures to a public vote.
The fear of a wider financial crisis appeared to ease Wednesday as the euro rose against the dollar and Treasury prices slipped. A revolt in George Papandreou’s government could scuttle the Greek referendum, which would be an enormous relief to investors. Papandreou faces a confidence vote on Friday.
Should voters reject the austerity plan, it could lead to a messy default on Greece’s debt that would send shock waves through Europe’s financial system and likely cause massive losses for banks that hold European debt. Only last week European leaders agreed to a wide-ranging plan to shore up European banks and heavily indebted countries like Greece and Italy.
Yesterday’s Top Performing Small Cap Stock:
Mantra Venture Group, Ltd. (OTCBB: MVTG)
Mantra Venture Group, Ltd. was a SmallCapVoice top performer closing up over 17% on trading volume of 1,000 shares.
Chip Cutter and Francesca Levy, AP Business Writers
Banks lead Dow lower after JPMorgan Chase earnings
Bank stocks lead Dow lower after JPMorgan Chase reports weakness in investment banking
NEW YORK (AP) — Bank stocks are falling sharply and dragging the market down after JPMorgan Chase & Co. reported that a slowdown in investment banking hurt its income.
The Dow Jones industrial average is down 84 points, or 0.7 percent, at 11,434 at 11:45 a.m. Eastern.
JPMorgan’s net income fell 4 percent in the July-September period. Fees from investment banking dropped 31 percent because of the severe turbulence in financial markets this summer. The bank said it’s concerned about the ability of consumers and businesses to manage their debts. JPMorgan fell 5.6 percent, the most of the 30 companies in the Dow.
The Standard & Poor’s 500 index is down 10, or 0.9 percent, at 1,196. The Nasdaq composite is down less than one point, at 2,604.
Today’s SmallCapVoice.com Hot Stocks to Watch:
Tootie Pie Company (OTCQB: TOOT)
Tootie Pie Goes Groupon!
Tootie Pie Company, Inc. (OTCQB: TOOT) reports that its first Groupon campaign in 2011 is a huge success. More than 6,000 possible new customers will visit the three San Antonio-area Tootie Pie Gourmet Café locations, a significant jump over the more than 2,000 customers from Groupon in 2010.
“As we head into the holidays, we thought now was a good time to increase traffic to our Cafés. So far, this new Groupon campaign has doubled last year’s Groupon campaign sales. So, it is clear that we have not only achieved, but surpassed our goals for increased traffic” said Don Merrill, President & CEO. “To date, we have used Groupon for our Cafés in San Antonio and Fredericksburg and will follow up with Austin and Dallas in the coming weeks.”
AUSTIN, Texas, Oct 13, 2011 /PRNewswire/ — SmallCapVoice.com, Inc. announced today that a new audio interview with Mantra Venture Group Ltd. (“Mantra”) (OTC.BB:MVTG) (Frankfurt: 5MV), is now available. The interview can be heard at http://smallcapvoice.com/blog/10-12-11-smallcapvoice-interview-with-mantra-venture-group-otcbb-mvtg
Podcast: Download (Duration: 9:43 — 8.9MB) | Embed
Learn More about the Mantra’s flagship carbon utilization technology known as the Continuous Co-Current Electro-Chemical Reduction of Carbon Dioxide (“ERC”) http://www.mantraenergy.com/Technology/ERCTechnology.aspx
Larry Kristof, President and CEO of Mantra (OTCBB: MVTG) called into SmallCapVoice.com to go over the recent news issued by the Company regarding the announcement that its flagship carbon utilization technology known as the Continuous Co-Current Electro-Chemical Reduction of Carbon Dioxide (ERC) PCT# WO 2007/041872 A1, has advanced to the examination phase in the process for world-wide patent recognition. The United States of America, Australia, Europe, China, and India have all commenced the examination process.
He went on to discuss how Mantra is well positioned to take advantage of the proposed Regulations from the Government of Canada to reduce carbon dioxide emissions with their flagship carbon utilization technology known as the Continuous Co-Current Electro-Chemical Reduction of Carbon Dioxide (“ERC”). ERC is a cutting edge technology designed for use by large CO2 emitters such as power plants and large manufacturers. This technology takes the CO2 that is being generated and converts it into valuable by-products. The ERC process helps CO2 emitters reduce their carbon footprint and reduce their carbon associated costs while providing a new source of revenue from the conversion of the CO2 emissions into saleable by-products.
SEATTLE, Oct. 12, 2011 /PRNewswire/ — Mantra Venture Group Ltd. (“Mantra”) (OTC.BB: MVTG) (Frankfurt: 5MV) is pleased to announce that Mantra has been selected by Foreign Affairs and International Trade Canada and the Consul General of Canada in Denver to take part in the Canadian Cleantech Colorado Connection (C4) Initiative.
The C4 Initiative is designed to assist Canadian Cleantech entrepreneurs to grow their business internationally. The C4 Initiative was developed by the Trade Commissioner Service in Denver in collaboration with the National Renewable Energy Laboratory (NREL). NREL is the only federal laboratory dedicated to the research, development, commercialization and deployment of renewable energy and energy efficiency technologies. Other key partners include Posit Partners, Katten Muchin Rosenman LLP, Clean Launch and the Colorado Cleantech Industry Association.
Chip Cutter and Francesca Levy, AP Business Writer
Stocks rise on hopes for European bank plan
Stocks jump on hopes for latest plan to shore up European banks; new Slovakia vote on tap
NEW YORK (AP) — Hopes that Europe will finally take the bold steps needed to curb its financial crisis are sending stocks higher.
European Commission President Jose-Manuel Barroso presented a plan to strengthen European banks and lower Greece’s debt. It’s being seen as the strongest effort yet to address the region’s debt crisis.
Separately, a Slovakian opposition party leader said that country’s political parties have agreed to approve a deal to strengthen Europe’s financial rescue program. Slovakia blocked the deal on Tuesday, setting back efforts to free up more funds for indebted European countries.
The Dow Jones industrial average is up 117 points, or 1 percent, at 11,533 at midday. The Standard & Poor’s 500 is up 16, or 1.4 percent, at 1,211. The Nasdaq composite is up 33, or 1.3 percent, at 2,616.
Yesterday’s Top Performing Small Cap Stock:
Mantra Venture Group, Ltd. (OTCBB: MVTG)
Mantra Venture Group, Ltd. was a SmallCapVoice top performer closing up over 66% on trading volume of 742,009 shares.