Stocks are higher on the heels of a better-than-expected GDP report
The Commerce Department said the gross domestic product grew at an annual rate of 5.7 percent during the fourth quarter, easily topping economists’ forecast for growth of 4.5 percent.
The strong GDP report could get the market back on track after a 10-month rally came to a screeching halt over the past week. Shares have been falling since hitting a 15-month high last week.
Stocks extend slide for third straight on Obama’s bank overhaul plan
Stocks retreated Friday for the third straight day on fresh concerns about President Barack Obama’s proposed restrictions on banks.
The market is extending losses that gave the Dow Jones industrial average its biggest two-day drop since June. Not even upbeat earnings from General Electric and McDonald’s were able to offset the new worries.
Stocks turn higher on heels of increase in business inventories
Stocks are edging higher and Treasury prices are rising as the government says businesses increased inventories by a larger-than-expected amount in November.
The Commerce Department says Thursday that business inventories rose by 0.4 percent in November, double the increase economists expected.
The market has shown little direction in early trading following disappointing reports on retail sales and new jobless claims. Many investors are waiting for Intel Corp.’s earnings, being released after the end of trading.
LONDON — (Marketwire) — 01/13/10 — Vega Promotional Systems, Inc. (OTCPK: VGPR) today announced it has updated its website to include information on The Green Valley Project.
Located in western Indiana, The Green Valley Project is a multifaceted green energy power production facility that converts inexpensive methane gas from the abandoned Green Valley Mine into electricity and thermal energy.
LONDON — (Marketwire) — 01/05/10 — VEGA PROMOTIONAL SYSTEMS, INC. (PINKSHEETS: VGPR) today announced the Company’s Green Valley Project will restart the production of power.
The Company recently hosted a meeting at the Western Indiana production facility that included Officers and Engineers from the Company and various equipment and service vendors. Subsequent to the meeting, the Company has ordered a gas flow analysis that will be conducted on the existing wells to determine if it is necessary to drill additional wells. The Company’s plan is to stage the installation of the new generator sets and plans to restart the power production facility by installing the first generator and utilizing the methane from the existing well as stage one.
Stocks surge higher in the first trading day of the New Year
Stocks moved higher Monday on the first day of trading in the New Year, following the lead of overseas markets.
A weakening dollar is also boosting commodities prices and stocks in early trading. An analyst’s upgrade of Intel Corp. is pushing the technology sector higher.
Asian markets rose after new data showed China’s manufacturing sector expanded at its fastest rate in 20 months in December. European markets also gained after the monthly purchasing managers’ index, a key gauge of manufacturing activity, for the 16 countries that use the euro rose to a 21-month high and a similar survey for Britain rose to a 25-month high.