Welcome to The Daily Stock Report...brought to you by QualityStocks.Net, performance tracked daily.
I'm Cathy Rankin and for Monday March 26th. 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...
For the week, the S&P 500 surged 3.5%, logging its best performance in four years, while the Nasdaq turned in a similar performance.
The Dow also closed slightly higher, posting just enough of an advance to turn positive for the year and extend its winning streak to five days; but that was largely due to a 5.5% surge in General Motors (GM 31.99 +1.67) which accounted for 13 of the Dow's 19 point gain.
Shareholders applauded news that GM will pay stock bonuses to top executives for the first time since 2003 while autos were also in focus following reports that Magna International (MGA 75.42 +0.41) teamed up with a private equity partner to pay between $4.6 bln and $4.7 bln for Chrysler Group (DCX 82.36 +4.76).
With the Fed recently saying in its policy directive that "the adjustment in the housing sector is ongoing," today's housing data at 10:00 ET was anticipated to set a more definitive tone. Initially, the bulls got what they were hoping for as existing home sales unexpectedly rising 3.9% in February to 6.69 mln, the fastest pace in three years, eased some of the overblown fears of a housing crisis leading to recession.
However, the report also greatly reducing the rationale behind the Fed cutting rates anytime soon prompted a reversal in bonds that also took some steam out of equities.
Oil prices climbing back above $62/bbl didn't help matters much either. Fortunately for the bulls, oil closed off its best levels yet offered enough of an incentive for the Energy sector to provide some notable leadership.
Crude for May delivery surged amid renewed geopolitical tensions after the British Ministry of Defense confirmed that 15 Naval personnel were seized by Iran. Such worries contributed to a cautionary tone going into the weekend.
Stay tuned to the Quality Stocks Daily report this week as we keep you updated...
And now for our Small Cap News... brought to you by My automated Advisor
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Highlighting some of the Quality stocks movers and shakers of last week...
Lucas Energy, Inc. announced this month that it has completed its ninth acquisition in the last seven months with the lease of 498 acres of land in Gonzales County, Texas. The company plans to revitalize the three current active wells to boost production immediately.
Lucas Energy, Inc. is an independent oil and gas company is focused on identifying underperforming oil and gas assets, which can be revitalized through the application of modern well technology. The company currently operates eight separate oil and gas leases.
NuVim, Inc. announced this week that initial marketing programs to support the Kroger test in Detroit, Michigan will include consumer in store sampling and on shelf communications that will attract consumers to the NuVim product benefits. The objective is to build consumer awareness, trial, and repeat purchases of NuVim® as quickly as possible in the Kroger stores.
NuVim, Inc. products are marketed as the only beverage that helps build the immune system, muscle flexibility and athletic performance. NuVim® markets it's one of a kind beverage in the refrigerated juice section in half gallon juice cartons in 2,100 supermarkets and over 300 Wal-Mart supercenters from Connecticut to Miami to Georgia.
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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