Welcome to The Daily Stock Report...brought to you by QualityStocks.Net, performance tracked daily.
I'm Cathy Rankin and for Wednesday March 21st.... we're bringing you the latest news from around the markets as well as the top movers to look out for today...
In Headline News Today...
Evidently buyers were still hungry to own stocks Tuesday as investors built on a broad-based rally a day earlier predicated in part on hopes that tomorrow's Fed statement will reflect a more accommodative policy stance.
After plunging 14% to a 10-year low in January, housing starts rebounded in February with a 9% rise to a 1.525 mln annual rate. Building permits, a sign of future construction, fell for the 12th time in 13 months, which investors felt will help with the housing inventory glut.
It is worth noting, though, that while the volatile data overall eased the worst of fears about a housing market crash, no clear sign of a bottom didn't exactly provide overwhelming conviction that the Fed's impending statement will reflect the more balanced policy stance investors began pricing into the market yesterday.
As evidenced by the S&P 500 turning in a better performance than the Dow and Nasdaq, it's not surprising to see just how big of an impact more bargain-hunting interest throughout the beaten-down Financials sector had on the day's action. Another round of more M&A activity helped the brokerage group build on yesterday's 1.6% advance.
Of the other nine sectors trading higher, Utilities actually turned in the best performance as its defensive characteristics became attractive as a hedge against tomorrow's Fed directive possibly piquing concerns about the pace of economic growth.
And now for our Small Cap News... brought to you by VIASPACE, Inc. (VSPC.OB)
VIASPACE, Inc.( VSPC.OB) develops space and defense technologies from NASA and the department of defense into hardware and software products in the United States.
Ener1, Inc. announced this month that its EnerDel subsidiary will be making a technical presentation on lithium ion battery development at the Advanced Automotive Battery Conference Ener1, Inc. in Long Beach, California May 15 - 18 this year.
The company also announced this month that it delivered lithium ion battery cells for the next phase of testing by an independent laboratory. The company stated that it "expects that the performance of these cells will further improve on the results that were recently announced in February.
Ener1, Inc. (ENEI) closed today at $0.23 a share.
EMRISE CORPORATION through its subsidiary, Pascall Electronics Ltd., announced this month that they have received orders worth in excess of $1.9 million for its range of multimedia In-Flight-Entertainment and Communications products.
EMRISE Corporation is a multi-national manufacturer of defense, aerospace and industrial electronic devices and communications equipment. They offer a range of electronic components, such as digital and rotary switches, custom and standard electronic power supplies, RF components, and subsystem assemblies.
EMRISE CORPORATION (ERI) previously at $1.10 ERI closes up 4% at $1.15.
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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6:37TheGreenBaron.com Video Chart - VIASPACE, Inc. ...by thegreenbaronreport432 views
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