Tag - FBMS

Small caps declined after the ring of Tuesday’s opening bell, attempted to mount a comeback at noon after breaking through initial resistance, but declined during afternoon trading. Soaring crude oil prices, worrisome economic reports, the sinking greenback and a decline in international markets are burdening investors. Weak retail reports and Federal Reserve Vice Chairman Donald Kohn’s comments that policymakers are likely to hold interest rates steady provided additional concern for Wall Street.

At 2:09 p.m. ET, the Russell 2000 (NYSE:IWM) was up 4.70, or 0.64%, at 733.75.

Crude oil jumped to a new record high, climbing above $129 dollars a barrel amid tight stocks for diesel fuel and solid demand out of China and South America that is countering soft demand from the United States. With gasoline prices in some metropolitan areas moving above $4 dollars a gallon, another record high in crude oil will not likely be embraced by stock market traders, even if a handful of energy stocks stand to benefit.

The Labor Department’s producer price index report showed higher energy and food costs might be inflicting damage on other parts of the economy. The producer price index rose 0.2%, better than the expected 0.4% rise. However, skyrocketing gas prices mean the data is quickly outdated. Investors were more interested in the “core” producer price index, which edged up 0.4%, doubling expectations. This jump in the core tightens margins for businesses and forces them to consider raising prices, which can be suicidal in a sluggish economy where consumer discretionary spending . . .

AspenBio Pharma, Inc. (Nasdaq: APPY), Datawatch Corp. (Nasdaq: DWCH) and WCA Waste Corp. (Nasdaq: WCAA) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $750 million.

Here are today's biggest percentage gainers: