Stephen Bernard, AP Business Writer
Stocks edge higher after jobs, housing reports
Stocks inch up after pending home sales, factory orders rise and unemployment claims dip
NEW YORK (AP) — Stocks edged higher Thursday after reports on housing, manufacturing and jobs indicated the economy continues to grow, albeit slowly.
The Dow Jones industrial average rose 17 points in late morning trading. Broader indexes rose.
The Labor Department said first-time claims for unemployment benefits fell slightly last week, but remain well above levels that indicate a healthy economy. Claims dipped for the second straight week. They fell slightly below the level economists had forecast, which was somewhat encouraging ahead of the monthly employment report due out Friday.
The Dow rose 17.48, or 0.2 percent, to 10,286.88. The Standard & Poor’s 500 index rose 5.75, or 0.5 percent, to 1,086.04, while the Nasdaq composite index rose 14.99, or 0.7 percent, to 2,191.83.
The number of buyers who signed contracts to purchase homes rose 5.2 percent in July after hitting a record low in June, according to the National Association of Realtors. Sales plummeted in the months following the expiration of the government’s home buyer tax credit in April and economists were expecting that trend to continue for a third straight month.
Yesterday’s Top Performing Small Cap Stock:
Pro-Pointer, Inc. (Pink Sheets: PPII)
Pro-Pointer, Inc. was a SmallCapVoice.com top performer closing up over 29% on trading volume of 481,987 shares.
By Leah Schnurr – Reuters
Stocks hit lowest level in seven weeks
NEW YORK (Reuters) – Stocks fell to their lowest level in seven weeks on Tuesday as an unexpectedly large drop in home sales ratcheted up concerns that the economic recovery is even weaker than had been feared.
The Dow and S&P 500 racked up their fourth day of losses in a row after an industry group reported that sales of U.S. existing homes in July fell to their slowest pace in 15 years.
“What’s really driving us is the sense that the economic outlook is unraveling a bit,” said Bernie McSherry, senior vice president at Cuttone & Co in New York.
With housing a linchpin of the U.S. consumer economy, the latest data cast doubt on the pace of recovery and added fuel to investors’ recent search for safety.
Prices of U.S. Treasuries soared, sending two-year yields to another record low. On the S&P 500, defensive plays telecoms and utilities were the only sectors to gain for the day.
Yesterday’s Top Performing Small Cap Stock:
Convenience TV Inc. (OTCBB: CRPZ)
Convenience TV Inc. was a SmallCapVoice.com top performer closing up over 7.22% on trading volume of 172,614 shares.
LAS VEGAS, NV — (Marketwire) — 08/24/10 — Pro-Pointer, Inc. (PINKSHEETS: PPII), through its wholly-owned subsidiary Coenzyme-A Technologies, Inc., proudly announces today the introduction of their latest Nutraceutical development, the "MODULATOR MATRIX I" formula, especially designed to help the individual user to effectively cope with today’s Stress and Anxiety Syndromes.
According to an American Psychological Association (APA) recent study, a total of 43% of adults in the U.S. suffer adverse health effects from stress. The National Institute of Mental Health reports that Anxiety disorders affect approximately 40 million American adults age 18 years or older. That clearly translates to 18% of the population in a given year. Stress is a psychological response to an external happening, whereas anxiety is a state of mind that is real or imagined and manifests itself in physical symptoms like rapid heart rate and sweaty palms, sleeping disorders and eventually depression.
Joyce M. Rosenberg, AP Business Writer
Stocks close modestly higher on retail reports
Stocks end seesaw day with modest advance as investors put positive spin on retail report
NEW YORK (AP) — Stocks ended a seesaw day with a modest gain Wednesday after investors found some pluses in retail earnings reports.
The Dow Jones industrial average and other major indexes fluctuated throughout the day before closing with slender gains. There was little news to motivate investors a day after a stream of improving economic numbers restored some of their enthusiasm for stocks and sent the Dow up 103 points. But retailers continued reporting second-quarter earnings and investors found a few positives.
Target Corp. missed analysts’ forecasts for its second quarter revenue and offered a muted outlook for sales for the rest of the year. But the company told analysts it hopes to offset weak sales with higher sales of groceries and its new discounts for credit card holders. Target initially fell sharply, then recovered to a healthy advance.
The reports came a day after Wal-Mart Stores Inc. and Home Depot Inc. issued numbers that were upbeat. Almost all the big retailers closed higher Wednesday. An exception was BJ’s Wholesale Club Inc., which lowered its earnings outlook for the year. Its stock dropped.
Yesterday’s Top Performing Small Cap Stock:
Tootie Pie Company (OTCBB: TOOT)
Tootie Pie Company was a SmallCapVoice.com top performer closing up over 5% on trading volume of 2,800 shares.
LAS VEGAS, NV — (Marketwire) — 08/17/10 — Pro-Pointer, Inc. (PINKSHEETS: PPII), through it’s wholly owned subsidiary Coenzyme-A Technologies, Inc., is pleased to announce they are continuing the international distribution negotiations with Global Pharmaceuticals and Medical Supplies (GPMS), a new company that promises to be a leading exporter of American made pharmaceutical products and health and beauty supplies to the Middle Eastern and North African (MENA) countries within the next five years. They are confident that they can accomplish their goals by being the sole representing agent for carefully selected American supply manufacturers, which includes Coenzyme-A Technologies, Inc.
The proposed marketing Plan for 2010 by Global Pharmaceuticals and Medical Supplies (GPMS) demonstrates that the MENA region is part of the ever growing emerging markets and the total targeted population consists of 412.1 million consumers. Based on these demographics this marketing plan demonstrates great expansion opportunity for new companies based especially on its high growth rate and the high demand for quality made American products.