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Stocks extend rally on comments by Fed Chairman Bernanke
Investors buoyed by comments on the economy from Federal Reserve Chairman Ben Bernanke sent stocks mostly higher Monday. The Dow Jones industrials and Standard & Poor's index rose for a fifth straight day.
Bernanke said Sunday the recession would probably end this year if the government's program to boost the banking industry succeeds. But the Fed chairman also cautioned that the task of improving the banking system is a difficult one. During an interview with CBS' "60 Minutes," Bernanke said the government needs to get banks to lend more freely and get the financial markets to work more normally.
In morning trading, the Dow Jones industrial average rose 84.90, or 1.18 percent, to 7,308.88. The Standard & Poor's 500 index rose 10.02, or 1.32 percent, to 766.57, while the Nasdaq composite index fell 4.28, or 0.30 percent, to 1,427.22.
Yesterday's Top Performing SmallCapVoice.com stock:
Capital City Energy Group, Inc. (OTC BB: CETG | Quote | Chart | News | PowerRating) was a SmallCapVoice.com top performer moving up over 11% on trading volume of 25,732 shares.
In addition to its four wholly owned subsidiaries; Avanti Energy Partners, Eastern Well Services, Capital City Petroleum and Hotwell Services, Capital City Energy Group ("CETG") is a rapidly expanding energy company. It is an innovative leader in the design, management and sponsorship of retail and institutional direct participation energy programs and one of the few vertically integrated independent oil & natural gas companies operating today. CETG identifies and develops growth opportunities through drilling, operating, oil field service companies, acquisitions and fund management.
Today's SmallCapVoice.com Hot Stocks to Watch:
Ronn Motor Company, Inc. (Pink Sheets: RNNM)
Ronn Motor Company, Inc. announced today that the Company has recently signed an Agreement with Frigette for the manufacturing and distribution of RMC's proprietary H2GO(TM) Real-Time Hydrogen Injection System. The Agreement was formally signed during the MACS convention held recently in Dallas, Tx.
Under the terms of the agreement, RMC would receive a royalty for each device sold through Frigette. The Ronn Motor Company business plan projects 1,000,000 units sold in the U.S. market alone over the next three years, reflecting 1/2 of one percent penetration among domestic vehicles. These sales could potentially yield over $100,000,000 in top-line revenue for Ronn Motors.
Ronn Motor Company, Inc. is a design and manufacturing company focused on the leading edge engineering of environmentally friendly, finely built premium automobiles and technology. These systems include Hydrogen Fuel, Fuel cells, and Plug in-electrics. These features, coupled with RMC's core values of a strong sense of ethics, environmental sensitivity and premium quality, positions the Company as one of the new leaders in an automotive industry transitioning toward fuel efficiency.
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About SmallCapVoice.com
SmallCapVoice.com is a recognized corporate investor relations firm, with clients nationwide. Known for its ability to help emerging growth companies build a following among retail and institutional investors, SmallCapVoice.com utilizes its stock newsletter to feature its daily stock picks, audio interviews, as well as its client's financial news releases. SmallCapVoice.com also offers individual investors with all the tools they need to make informed decisions about the stocks they are interested in. Tools like our stock charts, stock alerts, and our investor fact sheets can assist with investing in stocks that are traded on the OTC BB and Pink Sheets.
Small Cap Voice SCV is an electronic publication, and is for informational purposes only. The stocks profiled by SCV are only company profiles and are not intended to be and should not be accepted by you as recommendations to buy or sell in these securities. These profiles are compiled from publicly available sources. Our sources include, but are not limited to, online research, company profiles, member suggestions, magazines, newspapers, analyst suggestions, broker recommendations, contact with the company, company rumors, press releases and other similar information sources. All profiles are based on information that is accessible by the public. Investing in stocks involves risk. SCV is not and does not hold itself out to be a registered broker or dealer or other licensed securities professional. You should consult a qualified, licensed financial advisor or stock broker before making any decisions to invest in the securities of any company that is described in these profiles. For compensation and complete disclaimer click here.
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