Stocks are lower after China reported a sharp jump in inflation along with mixed U.S. economic news
Overseas markets were mixed after China said its inflation rate jumped 2.7 percent in February from 1.5 percent in January. Rapid inflation could force China to raise interest rates. That, in turn, could slow one of the world's fastest-growing economies and put a damper on a global recovery.
Meanwhile, the Labor Department said workers filing for jobless benefits for the first time fell by 6,000 to a seasonally adjusted 462,000 last week. Economists were predicting a slightly bigger drop, forecasting new claims would fall to 460,000, according to Thomson Reuters.
But the market was unimpressed by the report. While it showed some easing of the labor market, it didn't point to the increase in hiring that investors want to see. Stocks have traded in a narrow range since the Labor Department said on Friday that employers cut fewer jobs in February than analysts expected. The market is looking for more signs of progress.
The Commerce Department said the country's trade deficit fell in January because of a big drop in imported oil and cars. U.S. exports dipped 0.3 percent. The drop in U.S. exports might give investors pause because a drop in overseas sales could slow the recovery.
In early morning trading, the Dow Jones industrial average fell 31.06, or 0.3 percent, to 10,536.27. The Standard & Poor's 500 index dropped 4.06, or 0.4 percent, to 1,141.55, while the Nasdaq composite index fell 9.81, or 0.4 percent, to 2,349.14.
Yesterday’s Top Performing Small Cap Stock:
Attitude Drink Company, Inc. (OTCBB: ATTD)
Attitude Drinks, Inc. was a SmallCapVoice.com top performer yesterday closing up over 52% on trading volume of 7,535,596 shares.
Attitude Drinks, Inc. is an innovative, beverage brand development company with a focus on functional milk ready-to-drink (RTD) beverages. Phase III Recovery is our first functional milk drink and exploits recent scientific evidence of the benefits of milk and protein as an exercise recovery aid. The February 2010 launch of Phase III marks the first time milk has been used in a sports drink of any kind. We are finalizing development of new functional milk drinks targeting weight management and younger consumers which utilize the same processing technology used in Phase III for launch in Q-3 2010.
Today’s SmallCapVoice.com Hot Stock to Watch:
Tootie Pie Company (OTCBB: TOOT)
Tootie Pie Co. Gourmet Café Brings 'High Tea' to The Shops at Artisans Alley
Third San Antonio Location Puts Tootie Pie Company on Track for 2010 Revenue Goals
Mar. 11, 2010 (Business Wire) — Tootie Pie Company, Inc. (OTCBB:TOOT) will sell its high-quality, handmade pies in the newest Tootie Pie Co. Gourmet Café at The Shops at Artisans Alley, a prestigious retail location with dozens of upscale shops, located near several affluent neighborhoods in north central San Antonio.
SmallCapVoice Clients' News
CMG Holdings, Inc. (OTCBB: CMGO)
CMG Holdings Inc. (CMGO), Creative Management Group Inc. Agency Client Jose Lobaton Signs With Major League Baseball's Tampa Bay Rays
CMG Holdings, Inc. (OTCBB: CMGO) www.cmgholdingsinc.com, a full service marketing communications company operating across sectors of commercial rights, event management and talent management, is pleased to announce that Creative Management Group Agency client Jose Lobaton has signed with the Tampa Bay Rays of Major League Baseball. Lobaton, a twenty-five-year-old switch-hitting native of Venezuela, was named Best Defensive Catcher on the San Diego Padres’ squad by Baseball America two years in a row. Rafael Perez, CMG Agency’s Senior Associate of South American Operations, mana
Other Small Cap News
Pinnacle Entertainment, Inc. (NYSE: PNK)
Pinnacle Entertainment Agrees to Settle President Casino Licensing Issue
"We are deeply grateful for the support our company and our employees have received throughout this process from many public officials from the City of St. Louis and at the state level," said John V. Giovenco, Pinnacle Entertainment's interim chief executive officer. "However, we have determined that it is in the best interests of our shareholders and our company to settle this issue. We intend to focus on maximizing shareholder value at Lumiere Place and our new River City Casino, which opened on March 4, 2010."
Vaalco Energy Inc. (NYSE: EGY)
VAALCO Energy Provides Update on Gabon Drilling Program
Vaalco Energy Inc. (NYSE:EGY) is pleased to announce that the contracted rig "Sapphire Driller" is on location at the Ebouri Platform offshore Gabon and will commence drilling the first of four wells today, March 10, 2010.
Document Security Systems, Inc. (NYSE Amex: DMC)
Masterpiece Graphix Named as Distributor for Document Security Systems' HP Indigo-certified AuthentiGuard(R) Digital Security Papers
Document Security Systems, Inc. (NYSE Amex: DMC; "DSS"), a world leader in the development and manufacturing of products and packaging containing optical deterrent and authentication technologies that help prevent counterfeiting and brand fraud from the use of desktop scanners and copiers, is pleased to announce today that it entered into a Distributor Agreement ("Agreement"), with Masterpiece Graphix, Inc. ("MGX"), the largest provider of customized pre-coated, print-enhanced substrates for digital printing, to distribute DSS's new line of digital press-compatible AuthentiGuard Security Papers to HP Indigo users and other digital press operators.
Kimber Resources Inc. (NYSE Amex: KBX)
Kimber announces mineral resource estimate for Carotare Deposit and provides Monterde and warrants update
Kimber Resources Inc. (NYSE Amex:KBX, TSX:KBR) is pleased to announce a new, upgraded mineral resource estimate for the Carotare Deposit, located approximately 2 kilometres west of the Carmen Deposit, at its 100% owned Monterde project, located in Mexico's Sierra Madre mining district. This estimate is in addition to the Carmen mineral resource estimate reported on November 18, 2009 and the Veta Minitas mineral resource estimate reported on December 1, 2009.
BIOLASE Technology, Inc. (Nasdaq: BLTI)
BIOLASE and Henry Schein Extend and Amend Licensing and Distribution Agreement
BIOLASE Announces Preliminary 2009 Fourth Quarter Results
BIOLASE Technology, Inc. (NASDAQ:BLTI), the world's leading dental laser company, announced today that it has amended its licensing and distribution agreement with Henry Schein, Inc. (NASDAQ:HSIC), the largest provider of healthcare products and services to office-based practitioners. Within the United Kingdom, Australia, New Zealand, Belgium, Luxembourg, Netherlands, Spain, Germany, Italy, Austria, and North America, all dental sales will continue to be provided exclusively through Henry Schein.
Force Protection, Inc. (Nasdaq: FRPT)
Force Protection Receives Award of $26.1 Million for Additional Field Service Support
Force Protection, Inc. (NASDAQ: FRPT), a leading designer, developer and manufacturer of survivability solutions and provider of total life cycle support for those products, today announced it has received a modification to contract M67854-07-D-5031 from the United States Marine Corps Systems Command for additional field service support.
BioSante Pharmaceuticals, Inc. (Nasdaq: BPAX)
BioSante Announces Positive Leukemia Vaccine Results
Johns Hopkins Researchers Say Vaccine Appears to “Mop Up” Leukemia Cells Gleevec Leaves Behind
BioSante Pharmaceuticals, Inc. (NASDAQ: BPAX) today announced positive results of a human clinical study that show that its GVAX Leukemia vaccine may be able to reduce or eliminate the last remaining cancer cells in some chronic myeloid leukemia (CML) patients taking the drug Gleevec (imatinib mesylate). All patients enrolled in the trial used Gleevec for at least one year and still had cancer cells present.
OccuLogix, Inc. (Nasdaq: TEAR)
TLCVision to Study DED With the TearLab Osmolarity System
OccuLogix, Inc., dba TearLab Corporation ("TearLab") (Nasdaq:TEAR - News) (TSX:TLB), announced today that TLCVision Corporation, North America's premier eye care services company, will be incorporating the TearLab(TM) Osmolarity System ("TearLab System") in eight of its U.S. refractive surgery centers to study Dry Eye Disease ("DED") symptoms as they relate to LASIK surgery.
Boston Scientific Corporation (NYSE: BSX)
FDA Approves Boston Scientific's Express(R) LD Iliac Stent System
First and only premounted, balloon-expandable stent approved specifically for use in iliac arteries
Boston Scientific Corporation (NYSE:BSX) today announced that the U.S. Food and Drug Administration (FDA) has approved its Express® LD Iliac Premounted Stent System for use in iliac arteries. The Express LD Iliac Stent is the first and only low-profile, premounted, balloon-expandable stent approved by the FDA for use in treating iliac artery disease. The Company said it plans to launch the product immediately in the United States.
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