Chip Cutter, AP Business Writer
Jobs report pushes stocks up despite debt worries
Strong jobs report nudges stocks higher even as stalemate over debt continues in Washington
NEW YORK (AP) — An unexpected decrease in unemployment claims sent stocks slightly higher Thursday even as a stalemate continued in Washington over how to avoid a U.S. debt default.
The government said first-time applications for unemployment benefits fell to 398,000 last week, the lowest level in four months. That's a sign that employers are laying off fewer workers.
The Dow Jones industrial average rose 36 points, or 0.3 percent, to 12,336 in morning trading. The index fell the previous four days over worries that the U.S. might default on its debt next week if Congress doesn't raise the country's borrowing limit.
Yesterday's Top Performing Small Cap Stock:
Red Metal Resources Ltd. RMES
Red Metal Resources Ltd. was a SmallCapVoice.com top performer closing up over 11% on trading volume of 3,400 shares.
Red Metal Resources Ltd. is a US-listed mineral exploration company focused on aggressive growth through acquiring, exploring and developing copper-gold assets in Chile's Region III. As the world's leading copper producing nation, Chile is famous for world-class, low-grade, high-tonnage deposits and possesses massive potential in undeveloped mid-sized, high-grade, copper-gold deposits. Chile has consistently been ranked as one of the most politically stable countries in which to invest, contains excellent infrastructure and possesses a mining-educated workforce. Our three projects are located in the prolific Candelaria iron oxide copper-gold (IOCG) belt of Chile's coastal Cordillera, host to Freeport McMoRan's Candelaria Mine and Anglo American's Mantoverde Mine.
Today's SmallCapVoice.com Hot Stock to Watch:
Tootie Pie Company TOOT
Fast-Casual Growth a Plus for Tootie Pie Company
SAN ANTONIO, July 28, 2011/PRNewswire/ – Tootie Pie Company TOOT, is poised for growth as two national trends one in business and the other in popular culture merge on the doorstep of its Tootie Pie Gourmet Cafes .
Recent industry publications have reported that while sales in most of the restaurant industry remain flat, the fast-casual segment is growing by nearly 6 percent a year; with the bakery/cafe segment claiming a large piece of that growth.
Other Small Cap News
Soligenix, Inc. SNGX
Soligenix Announces Expansion of Partnership With Sigma-Tau Pharmaceuticals for orBec® in Europe
Soligenix to Receive up to $16 Million, including Upfront Payment of $5 Million along with 40% Royalty on Net Sales in Europe
PRINCETON, N.J., July 28, 2011 /PRNewswire/ — Soligenix, Inc. (Soligenix or the Company) (OTC BB:SNGX), a late-stage biopharmaceutical company, announces the expansion and amendment of its North American licensing partnership with Sigma-Tau Pharmaceuticals, Inc. (Sigma-Tau) for the development and commercialization of orBec® (oral beclomethasone dipropionate or Oral BDP) into the European territory.
Advaxis, Inc. ADXS
Advaxis Immunotherapies Classified as Non-Pathogenic Materials by the CDC in the U.S. and the ZKBS in Germany
PRINCETON, N.J.–(BUSINESS WIRE)– Advaxis, Inc., ADXS, a leader in developing the next generation of immunotherapies for cancer and infectious diseases, has received affirmation by the Public Health Service of the U. S. Centers for Disease Control and Prevention (the “CDC”) and the Zentrale Kommission für die Biologische Sicherheit (the “ZKBS”), the Central Commission for Biological Safety in Germany, that Advaxis strains, constructs and immunotherapies (the “Advaxis Agents”) have been attenuated to the point that they are classified as non-pathogenic materials for handling and shipment. This is not the same as an assessment of safety for medical use by the FDA.
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