Stocks are sharply higher on China export data and stronger euro
Stocks are sharply higher on Thursday, boosted by confirmation of strong China export data and a climb in the euro, while jobless claims data offered no surprises.
China confirmed that exports jumped 50 percent in May, reassuring investors about the global economy in the face of the euro-zone debt crisis. Europe is China’s biggest overseas market.
The number of U.S. workers filing new unemployment claims fell less than expected last week, while the trade deficit widened slightly in April, pointing to a moderate economic recovery.
The drop in total claims provides some hope that laid-off workers are starting to find new jobs. It was welcome relief after the Labor Department said last week that private employers slowed their hiring in May to the lowest levels since January.
Job creation is considered vital to a sustained recovery in the U.S. and consistently positive jobs data could get investors to regain confidence in a domestic recovery after worries about Europe’s troubles have overwhelmed global markets for more than a month.
The euro was up nearly 1 percent against the dollar as strong demand in a Spanish auction eased concerns about how the country will fund its large debt. The European Central Bank kept interest rates at 1.0 percent as expected.
The Dow rose 217.73, or 2.2 percent, at 10,116.98.
Yesterday’s Top Performing Small Cap Stock:
Tie Technologies, Inc. (Pink Sheets: TTCS)
TIE Technologies, Inc. was a SmallCapVoice.com top performer yesterday closing up over 20% on trading volume of 22,853 shares.
TIE Technologies is a systems integration and telecommunications company focused on engineering and delivering innovative solutions for user’s needs and challenges within the dynamic global voice, video and data communications markets. The company offers managed IT and telecommunication services to solve a myriad of complex client requirements. Services and solutions include outsourced and internal server applications hosting, managed hosting and related systems management services, database hosting, content delivery networks, data broadcasting networks, and voice and video solutions.
Today’s SmallCapVoice.com Hot Stock to Watch:
Tootie Pie Company TOOT
Tootie Pie Kicks Up Its Heels at Toby Keith’s “I Love This Bar & Grill”
Jun. 10, 2010 (Business Wire) — Tootie Pie Company, Inc. TOOT announced that Tootie Pie is now carried in Toby Keith’s “I Love This Bar & Grill” at three Oklahoma locations: Bricktown in Oklahoma City, the Hard Rock Hotel in Tulsa and the newly opened WinStar Casino in Thackerville.
“Toby Keith’s is a high profile, growing brand and we are happy to have Tootie Pie’s available at these three locations. Hopefully, we will see our pies in some of their other franchise locations as well,” said Don Merrill, President & CEO.
SmallCapVoice Clients’ News
Sillenger Exploration Corp. (Pink Sheets: SLGX)
Sillenger: Preliminary Data Indicates Presence of Gold, Diamonds, and Bauxite in Equatorial Guinea
VANCOUVER, BC — (Marketwire) — 06/09/10 — Sillenger Exploration Corp. (“Sillenger”) SLGX, an innovative and progressive mineral exploration and claims management company, with experience in mining and business process management in Africa, has received the historical geological and geophysics data for the Rio Muni region of the Republic of Equatorial Guinea.
BRAVADA International Ltd (Pink Sheets: MFLI)
BRAVADA Announces Media List and Additional Celebrity Attendees to the BRAVADA Women’s Athletica Red Carpet Grand Opening Launch Party Today at 6:00 PM in Los Angeles at 322 Robertson Blvd.
Jun. 10, 2010 (Business Wire) — BRAVADA Muscle Flex Inc. (www.BravadaLtd.com) (Pink Sheets:MFLI) announced today a selection of the Media outlets and celebrity attendees for the BRAVADA Women’s Athletica Red Carpet Grand Opening Party today at 6:00 PM in Los Angeles at 322 S. Robertson Blvd in Los Angeles.
Other Small Cap News
TomoTherapy Incorporated TOMO
TomoTherapy Announces Radiation Therapy Supply Agreement With MedAssets
MADISON, WI–(Marketwire – 06/09/10) – TomoTherapy Incorporated TOMO, maker of advanced radiation therapy solutions for cancer care, announced today that it has signed an equipment supply group purchasing agreement with MedAssets. Through the agreement, customers of MedAssets’ group purchasing organization (GPO) will gain access to the TomoTherapy® technology through an expanded radiation oncology portfolio.
Magellan Petroleum Corporation MPET
Australian Foreign Investment Review Board (FIRB) Indicates “No Objection” to Magellan’s Acquisition of Santo’s 40% Interest in the Evans Shoal Natural Gas Field, Offshore Australia
PORTLAND, Maine, June 9 /PRNewswire-FirstCall/ — Magellan Petroleum Corporation MPET MGN (“Magellan” or the “Company”) announces that Australia’s Foreign Investment Review Board (FIRB) has indicated they have “no objection” to Magellan’s acquisition of Santos Limited’s (Santos) 40% interest in the Evans Shoal natural gas field (NT/P48). The Board examines proposals by foreign interests to undertake direct investment in Australia and makes recommendations to the Government on whether those proposals are suitable for approval under the Government’s policy.
Manitex International Inc. MNTX
Manitex International receives $5M in orders
Manitex International receives $5 million in orders for 3rd- and 4th-quarter delivery
BRIDGEVIEW, Ill. (AP) — Manitex International Inc., which makes forklifts, cranes and other lifting vehicles, said Wednesday it received $5 million in new orders to be shipped in the third and fourth quarters.
About $4 million was received in orders for the company’s boom truck cranes. About $1 million was for its military material handling products from a U.S. customer and from the Spanish military.
Immunomedics, Inc. IMMU
Immunomedics Presents New Antibody for Pretargeting Epithelial Cancers at Medical Conference
Studies With TF12 in Prostate and Ovarian Cancers Reported at 2010 Society of Nuclear Medicine Annual Meeting
SALT LAKE CITY, June 9, 2010 (GLOBE NEWSWIRE) — Immunomedics, Inc. IMMU, a biopharmaceutical company focused on developing monoclonal antibodies to treat cancer and other serious diseases, today announced that TF12, in combination with radiolabeled peptides, produced specific, fast, high-contrast imaging and pretargeted radioimmunotherapy of epithelial cancers that include cancers of the prostate and the ovary.
Andatee China Marine Fuel Services Corp AMCF
Andatee China Marine Fuel Signs Ten Year Exclusive Cooperation Agreements to Supply Marine Fuel
DALIAN, China, June 9 /PRNewswire-Asia/ — Andatee China Marine Fuel Services Corporation (“Andatee”) AMCF, the leading independent operator engaged in the production, storage, distribution, wholesale purchase and sale of blended marine fuel oil for cargo and fishing vessels in Northern China, today announced that it has signed exclusive agreements with Haiyu Fishery Limited Corporation (“Haiyu”) and Jinghai Group (“Jinghai”) to supply marine fuel, on an exclusive basis, for a period of 10 years. Both Haiyu and Jinghai are located in Shandong Rongcheng City.
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