Welcome to The Daily Stock Report...brought to you by QualityStocks.Net, performance tracked daily.
I'm Cathy Rankin and for Wednesday May 9th we're bringing you the latest news from around the markets as well as the top movers to look out for today...
(HEADLINE NEWS)
In Headline News Today...
After stumbling right out of the gate, the major averages slowly clawed their way higher to close relatively unchanged as several weeks of underlying bullish momentum didn't stay idle long enough for the bears to declare an outright victory
The Dow, which was down as much as 75 points intraday, closed down less than four points, while the Nasdaq, down 0.8% at its lows, closed just above the flat line.
With several indices hitting historic levels of late, especially a string of 24 wins over 27 days that lifted the Dow further into the record books, and ahead of tomorrow's FOMC meeting, it wasn't surprising to see investors exercise a cautious stance
Nonetheless, the market's resilience in the face of a rebound in oil prices and some quarterly shortfalls from a handful of S&P 500 constituents was noteworthy since the broader market only enjoyed upside leadership from two economic sectors.
After being down more than 1.0% earlier in the session as the day's worst performing sector, Energy turning the corner midday also returned some much needed leadership.
After six straight days of declines, crude for June delivery rose 1.3% to $62.26/bbl after the EIA raised U.S. oil demand forecasts for Q2 and Q3 by 20,000 bpd and reports of more political unrest in Nigeria raise concerns about potential supply disruptions
More notably was the fact transportation stocks actually gained ground in the face of oil's rebound as higher energy prices continue to make Railroads (+1.6%) attractive as a more affordable alternative
And now for our Small Cap News... brought to you by B2Digital, Inc.
B2Digital, Inc. (BTOD.OB) provides in-room, on-demand & Pay Per View video entertainment, and satellite services to the domestic lodging industry. The company also provides for in-room viewing of select cable channels and other interactive and information services, including high-speed Internet access
Tank Sports announced yesterday update integration progress of the company's post-acquisition of Redcat Motors. Redcat Motors is an importer and distributor of off-road power-sports products from China. The company has 5 regional warehouse locations and a dealership network of over 300 dealers.
Tank Sports also announced this month that the company was approved for a ten million dollar line of credit through Dutchess Private Equity Fund, LLC by the SEC.
The company opens their day at $.70 cents per share
Tri-S Security Corp. shares broke its 52 week high of $3.40 on news the company's wholly-owned subsidiary, Paragon Systems, Inc. has been awarded a new contract with the U.S. Department of the Homeland Security which represents $30.0 million in total revenue over the five-year contract period beginning June 1st of this year. The contract allows for Paragon to provide security guard services at various Federal facilities in Seattle
Tri-S Security Corp. is a provider of security services including uniformed guards, electronic monitoring systems, personnel protection, access control, crowd control and the prevention of sabotage, terrorist and criminal activities as well as security related equipment for government and private entities.
The company starts its day at $3.51 cents a share
And that's our newsmakers, Stay tuned right here to Quality Stocks Daily for the latest news from small cap to large cap, and everything in by QualityStocks.Net, where performance is tracked daily.
Thank you for tuning in, I'm Cathy Rankin, Have a great day and we'll see you tomorrow, right here on the daily report.
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shut up and take off your top!
johnsxs 3 years ago
What you should have said; unrest in oil producing area of nigeria. You can not say urest in the whole Nigeria. Your news needs to be tailored to the area, not the entire country. It like saying unrest in USA, instead of saying unrest in Texas. Nigeria is an emerging market, and false
categorization of the entire country will reduce FDI in to the country.
soulposter 4 years ago
Lol maybe if your video was helpfull people might see your in your face advertisement. God this video was anoying.
Skygerobrian 4 years ago