Stocks reversed course mid-week and made solid gains today thanks to bargain-hunters who were on the prowl, and on rumors that China may release a new stimulus package. Some of today’s small-cap gainers were Toreador Resources (Nasdaq:TRGL), DryShips (Nasdaq:DRYS) and ADC Telecommunications (Nasdaq:ADCT).

Other Market Watch highlights today included:

• The Russell 2000 (NYSE:IWM) closed up 6.46, or 1.79%, to 367.47. The Dow closed up 2.09% to 6,866.44 and the S&P 500 closed up 2.38% to 712.87. 
• For the year, the Russell is now down 26.43%, the Dow is down 21.76% and the S&P 500 is down 21.08%.
• The Fed released a survey today that showed the U.S. economy has deteriorated in the past 2 months and that the outlook for a quick recovery is bleak.
• ADP Employer services reported this morning that private employers cut 697,000 jobs in February versus a revised 614,000 jobs lost in January. The January job cuts were originally reported at 522,000.
• Rumors that China may announce a huge stimulus bill lifted global stock markets higher overnight.
• The Obama administration released a foreclosure prevention program today that also helped buoy stocks higher.
• Oil prices climbed 9% to $45.38 after global stock markets rallied and the U.S. government reported that crude levels in storage unexpectedly shrank.

Small Cap Gainers:

• Toreador Resources Corporation climbed 25% today after completing its Black Sea assets sale. See (Nasdaq:TRGL).
• DryShips closed up 40% following an update of its sale and purchase activities released on Tuesday. See (Nasdaq:DRYS).
• ADC Telecommunications rose 29% after reporting Q1 results and . . .

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