Russell opens in the red; UDR, GTXI, and TiVo lead gainers

Small-cap stocks pushed lower on the opening, pulled down by a familiar worry of late –sinking bank and financial shares. Additional selling was fueled by losses in overseas markets as the U.S. catches up with the world following Monday’s holiday. It should be noted that action today could be spotty and uneven with the nation’s attention on the inauguration of Barack Obama as the 44th President of the United States. Some of today’s small-cap gainers were UDR (NYSE:UDR), GTx (Nasdaq:GTXI) and TiVo  (Nasdaq:TIVO).

Other Market Watch highlights today included:

• Additional selling was fueled by losses in overseas markets as the U.S. catches up with the world following Monday’s holiday.
• During the U.S. holiday Monday, the Royal Bank of Scotland said they would report an annual loss of some $41 billion dollars for 2008, which would stand as the biggest loss ever in UK corporate history.  
• The greenback was up about 1% versus the euro; in early commodities trade, cotton and cocoa were taking a big hit.  
• Crude oil prices were lower overnight, but relatively flat into the stock market open.  
• The key early this week will be whether or not the market can hold up against 453 support. 

Small Cap Gainers:

• UDR Inc, GTx Inc, and TiVo Inc open as lead gainers on Tuesday's session.  See:(NYSE:UDR), See:( Nasdaq:GTXI), See: (Nasdaq:TIVO)

Small Cap Losers:

• State Street Corp. an institutional money manager tumbles 52% on Tuesday's opening. See:(NYSE:STT) 
• Citigroup Inc. down 5%. See: (NYSE:C)  
• Wells Fargo & Co. falls 11% on opening. See: (NYSE:WFC)
• Bank of America Corp. was off some 16% right after the opening. See: (NYSE:BAC)

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