Tag - LCC

US Airways Group Inc (Nasdaq:LCC), MGIC Inventory Corp (Nasdaq:MTG), Americal Axel Holdings (Nasdaq:AXL) and Intermune Inc (Nasdaq:ITMN)are among the most actively traded companies in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: : Liz Claiborne (Nasdaq:LIZ), National Penn Bancshares (Nasdaq:NPBC), LDK Solar Inc (Nasdaq:LDK), STEC Inc (Nasdaq:STEC) and PDL Bio Pharmaceuticals Inc (Nasdaq:PDLI).

Us Airways Group (Nasdaq:LCC), STEC Inc (Nasdaq: STEC), A Power Energy (Nasdaq:APWR) and Trina Solar Ltd (Nasdaq:TSL) are among the most actively traded companies in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Synaptics Inc (Nasdaq:SYNA), Centene Corp (Nasdaq:CNC), Airtran Holdings (Nasdaq:AAI), Canadian Solar Inc (Nasdaq:CSIQ) and Centrais Eletricsas Brasileiras (Nasdaq:EBR).

Origin Agritech (Nasdaq:SEED), US Airways Group (Nasdaq:LCC), Mannkind Corp (Nasdaq:MNKD) and Vivus Inc (Nasdaq:VVUS) are among the most actively traded companies in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Taser International Inc (Nasdaq:TASR), SolarFun Power Holding Co (Nasdaq:SOLF), Beazer Homes USA (Nasdaq:BZH), Renesola Ltd (Nasdaq:SOL) and STEC Inc (Nasdaq:STEC).

US Airways Group (Nasdaq:LCC), Beazer Homes USA (Nasdaq:BZH), Radian Group Inc (Nasdaq:RDN) and Solarfun Power Holdings (Nasdaq:SOLF)are among the most actively traded companies in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Dragonwave Inc (Nasdaq:DRWI), Airtran Holdings Inc (Nasdaq:AII), STEC Inc (Nasdaq:STEC), Allos Therapeutics Inc (Nasdaq:ALTH), and Hercules Offshore Inc (Nasdaq:HERO).

Beazer Homes USA (Nasdaq:BZH), US Airways Group Inc (Nasdaq:LCC), Vivus Inc (Nasdaq:VVUZ) and STEC Inc (Nasdaq:STEC)are among the most actively traded companies in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Renesola Ltd (Nasdaq:SOL), Tessera Technologies (Nasdaq:TSRA), Energy Conversion Devices (Nasdaq:ENER), MGIC Inventory Corp (Nasdaq:MTG) and Airtran Holdings (Nasdaq:AAI).

US Airways Group (Nasdaq:LCC), Origin Agritech LTD (Nasdaq:SEED), Solarfun Power Holdings (Nasdaq:SOLF) and Taser International Inc (Nasdaq:TASR)are among the most actively traded companies in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results:STEC Inc (Nasdaq:STEC), Netlist Inc (Nasdaq:NLST), Mannkind Corp (Nasdaq:MNKD), Sonic Corp (Nasdaq:SONC) and Reneasola (Nasdaq:SOL).

US Airways (Nasdaq:LCC), STEC Group (Nasdaq:STEC), Origin Agritech (Nasdaq:SEED) and Mannkind Corp (Nasdaq:MNKD) are among the most actively traded companies in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Brightpoint Inc (Nasdaq:CELL), Airtran Holdings (Nasdaq:AAI), Alliance One International (Nasdaq:AOI), Western Refining Inc (Nasdaq:WNR) and American Axle And Manufacturing Holdings (Nasdaq:AXL).

AtherSys Inc (Nasdaq:ATHX), US Airways Group (Nasdaq:LCC), MGIC INventory Corp (Nasdaq:MTG) and Radian Group (Nasdaq:RDN)are among the most actively traded companies in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Stec Inc (Nasdaq:STEC), Take-Two Interactive Software (Nasdaq:TTWO), Vivus Inc (Nasdaq:VVUS), Airtran Holdings Inc (Nasdaq:AAI) and LDK Solar (Nasdaq:LDK).

Small-cap stocks remained higher into mid-session, underpinned by a few bright spots on the earnings front, M&A enthusiasm and confirmation of Timothy Geithner’s appointment as Treasury Department Secretary. However, record low consumer confidence kept some buyers at bay. Some of today’s small-cap gainers were Netflix Inc. (Nasdaq:NFLX), Patriot Coal Corp. (NYSE:PCX) and Massey Energy Co. (NYSE:MEE).

Other Market Watch highlights today included:

• Outside of coal, energy shares are down, with the Energy Select Sector SPDR Fund off about 0.1% in line with slumping crude oil futures.  
• The chart picture for small caps shows that the market is trapped in a mini-range loosely defined by the inauguration day collapse.  
• Copper took a 5% nosedive in overseas trading, which is a troubling sign for the economy as copper is a key ingredient in building.  
• On Thursday, new home sales data will help provide further information about the housing market.

Small Cap Gainers:

• Netflix Inc. jumped 14% on heavy volume following surprisingly positive earnings figures. See (Nasdaq:NFLX).   
• Among coal stocks, small-cap company Patriot Coal Corp. was up 2.7%, while Massey Energy Co. was up 3.2%. See (NYSE:PCX) and (NYSE:MEE).
• Resource America Inc. was only slightly higher at midday, but was seeing unusually brisk volume, especially for such a tight daily range. See (Nasdaq:REXI).

Small Cap Losers:

• Olin Corp. fell 12% on brisk volume tied to earnings news. See (Nasdaq:OLIN).  
• UAL Corp., parent company of United Airlines, is off about 8%. See (Nasdaq:UAUA).  
• The AMEX Airline Index was off 6.3%, with small-cap carrier US Airways Group Inc. down 12%. See (NYSE:LCC).
• LivePerson Inc. was off about 2.6% on a jump in turnover without any apparent fresh news. See (Nasdaq:LPSN).  

Small-cap stocks remained higher into mid-session, underpinned by a few bright spots on the earnings front, M&A enthusiasm and confirmation of Timothy Geithner’s appointment as Treasury Department Secretary. However, record low consumer confidence kept some buyers at bay. At 12:22 p.m. ET, the Russell 2000 (NYSE:IWM) was up 6.45, or 1.43%, at 456.39.

The consumer confidence report came in this morning at 37.7, which was below the forecast of 39 and at record lows as consumers fret about sinking house prices and rising unemployment. Speaking of house prices, the Case-Shiller Home Price Index tumbled 18.2% from year-ago levels, which clouded some of the optimism from Monday’s more upbeat existing home sales data.

As for big-cap earnings news, American Express, US Steel and Texas Instruments helped offset weak reports from Verizon Communications and DuPont Co. and provided a small sliver of hope that an awful earnings season will still serve up some glimmer of good news.

Looking at sector activity so far today, coal stocks, steel companies, health-care distributors, diversified banks, motorcycle manufacturers, industrial conglomerates, advertising agencies, office electronics and semiconductor firms were the top performers. On the downside, airlines, oil refiners, electrical equipment manufacturers, telecoms, internet retailers, home improvement retailers, home furnishing retailers and food distributors were the weakest performers.

Looking at airlines, the AMEX Airline Index was off 6.3%, with small-cap carrier US Airways Group Inc. (NYSE:LCC) down 12%. Meanwhile, UAL Corp. (Nasdaq:UAUA) was off about 8%. The big news on the airline front came from big-cap carrier Delta Air Lines Inc. (NYSE:DAL), as the world’s largest firm tumbled 18% . . .

US Airways Group Inc. (Nasdaq:LCC), Central Jersey Bancorp (Nasdaq:CJBK) and Insight Enterprises Inc. (Nasdaq:NSIT) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Rubicon Technology Inc. (Nasdaq:RBCN), Big 5 Sporting Goods Corp. (Nasdaq:BGFV), InterOil Corp. (Nasdaq:IOC), Palm Inc. (Nasdaq:PALM), Switch & Data Facilities Co Inc. (Nasdaq:SDXC) and Super Micro Computer Inc. (Nasdaq:SMCI).

The Russell 2000 (NYSE:IWM) pushed higher Friday, fighting back from a midday slide into the red as commodity stocks, homebuilders and airline stocks offset another rough day for banks. Some of today’s small-cap gainers were Aercap Holdings (NYSE:AER), US Airways Group (Nasdaq:NYSE:LCC) and Polypore International (NYSE:PPO).

Other Market Watch highlights today included:

• Ahead of the open, the consumer price index came out at minus 0.7%, which was slightly below the forecast of minus 0.9%.
• The Michigan sentiment survey was reported at 61.9%, which was better than the forecast of 59.0. 
• Crude oil prices climbed 3.1% today, adding $1.11 a barrel to $36.51, which likely helped stabilize energy and other commodity markets.
• The Energy Select Sector SPDR Fund was up 0.8%. 
• A slide in the U.S. dollar today likely helped support various commodity markets and provide a cushion for commodity-tied stocks.
• Within the commodities realm, oil refiners and gas utilities were strong performers today.
• In the physical market, corn prices shot up 6% amid worries about a drought in Argentina, which competes with U.S. farmers on the global market.
• Airline stocks in general were solid performers today, with the AMEX Airline Index up 4.6%. 

Small Cap Gainers:

• Aercap Holdings NV soared 22% to the highest daily close since early November. See (NYSE:AER).
• Small-cap carrier US Airways Group Inc. climbed 13% a day after the emergency crash landing in New York’s Hudson River was pulled off without . . .

Small-cap stocks pushed higher Friday, fighting back from a midday slide into the red as commodity stocks, homebuilders and airline stocks offset another rough day for banks. The Russell 2000 (NYSE:IWM) closed up 3.82, or 0.83%, at 466.45, but still lost 3.1% for the week. For the year, small caps are off 6.6%, while the Dow is down 5.6% and the S&P 500 is down 5.9%.

Banks have been the dominant focal point for investors this week, and it has been a brutal period for some of the world’s most prominent financial firms. Citigroup Inc. (NYSE:C) tumbled 48% for the week and Bank of America Corp. (NYSE:BAC) shed 45% while posting its first quarterly loss in 17 years and the lowest daily close in more than a decade. Even news overnight that the government was extending another $20 billion of direct injection into BAC and guaranteeing $118 billion of assets couldn’t stem the selling tide today; BAC lost another 13.7%.

We’re only a little more than halfway through the month of January, but according to the S&P sector groups the biggest three losers are diversified financial services firms (down 38%); diversified banks (down 35%) and regional banks (down 27%). There is a segment of the investment community that doesn’t believe the market will go higher without leadership from the financial sector – if they are right, then the New Year is off to a troubling start indeed.

Even though it has been a dour start for banks this year, it’s interesting to note that call activity for Citigroup is starting to pick up steam, suggesting that investors are trying to take a shot at bargain hunting for the embattled firm. This afternoon, Bill Gross, leader of the world’s largest bond fund at PIMCO, said that the . . .

Small-cap stocks edged modestly higher into midday, with support from financial, insurance, airline and homebuilder stocks countered by sinking energy and commodity shares. At 12:27 p.m. ET, the Russell 2000 (NYSE:IWM) was up 1.55, or 0.32%, at 488.14.

Crude oil prices tumbled some 4% so far today, sinking below $38 a barrel at one point for the first time since July 2004. The pullback in crude oil prices has sent a chill throughout the energy arena; oil and gas drillers and oil equipment services firms were among the worst performers today and the Energy Select Sector SPDR Fund was down 2.6%. The U.S. dollar staged a big comeback against the euro today, not only wiping out overnight losses, but rising 0.9%, which took some of the buying edge off commodities as well. The Commodity Research Bureau Index of 19 physical markets was down 1.7% at midday, clearly one of the weakest asset classes in the mix.

One immediate beneficiary of the slide in energy prices should be the airline group, and sure enough airlines were among the best performers today. The AMEX Airline Index was up 3.2%, and small-cap carriers such as US Airways Group Inc. (NYSE:LCC) were up 3.3%, while UAL Corp. (Nasdaq:UAUA) was up 7.7%.

Financial shares were on the mend today, and there were plenty of small banks near the top of the percentage movers list. Insurance companies were clearly on a roll today, with Lincoln National Corp. (NYSE:LNC) up 7.1% at midday, and solid gains seen on other companies as well throughout the group.

Individual small caps on the move today included G III Apparel Group Ltd. (Nasdaq:GIII), which jumped 21%, rising above the 20-day moving average for the first time since the third week of October. Emeritus Corporation (NYSE:ESC) rose 20%, as the senior facilities living operator climbed above $10 for the first time since early November. ESC stock has more than doubled off the late November lows. Chindex International Inc. (Nasdaq:CHDX) rose 19% as the provider of . . .

Small-cap stocks staged a solid recovery rally Tuesday, recovering a hefty slice of the historic collapse from Monday’s freefall but remaining in the shadow of that epic decline. Strength today stemmed from short-term oversold conditions, hope for a rescue bail-out of automakers as well as bargain hunting in financial and homebuilder shares. The Russell 2000 (NYSE:IWM) closed up 24.75, or 5.93%, at 441.82. The Russell is now down 42% for 2008, while the Dow is off 37% and the S&P 500 is down 42%.

Optimism for a $25 billion aid package for embattled U.S. carmakers may have played a supportive role in the action today, but stock in General Motors Corp. (NYSE:GM) came tumbling down from a steep morning rally after word got out that November vehicle sales collapsed 41.3% versus the same month last year. Executives from the Big 3 automakers submitted plans to Congress for the bail-out proposal. Ford Motor Co. (NYSE:F) was the first to release their plan, which called for a $9 billion loan, no executive bonuses, a reduction in dealers and new plans for electric cars. Into the close, GM shares were up slightly, while Ford was up about 4%.

Financial stocks were among the top performers today, with the Financial Select Sector SPDR Fund up 5%, including another sizable rise in Citigroup Inc. (NYSE:C), which was up 9%. Smaller banks and financial firms dominated the best percentage movers as well.

Homebuilder shares were surprisingly stout, with the ISE Homebuilder Index climbing 7.5%. Within the small-cap universe, KB Home (NYSE:KBH) jumped 9.5%, Lennar Corp. (NYSE:LEN) rallied 14.1% and Centex Corp. (NYSE:CTX) rose 11.5%. Perhaps the group was simply oversold, and perhaps some of the move was tied to hopes that further rate cuts and the government’s new push on lowering longer-dated debt rates would revive the sagging housing industry. On Monday, Federal Reserve Chairman Ben Bernanke intimated that the Fed could purchase long-term products and that sentiment was echoed today by Philadelphia Federal Reserve Bank President Charles Plosser, who said that the Fed certainly can buy Treasury products and . . .

Small-cap stocks extended the rally into midday trading, boosted by a bounce in financial and energy shares after those sectors were drummed during Monday’s massive rout. Oversold conditions, bargain hunting and optimism about a bailout for beleaguered automakers fueled the upside pop.  Some of today’s small-cap gainers are Colonial Properties Trust (NYSE:CLP), Deltek Inc. (Nasdaq:PROJ) and Williams-Sonoma Inc.  (NYSE:WSM).

Other Market Watch highlights today included:

• Automaker remained higher into midday as investors waited word on progress for an aid package to stave off potential failure for the Big 3.  
• Airline stocks were up 5.5%, outperforming the broad market.
• The ISE Homebuilders Index was up 7% also a sign of relief after all of the economy worries pounded stocks Monday.  
• Among S&P sectors, REITS, wireless telecoms, broadcasting firms and diverse financial services companies were the best performers.


Small Cap Gainers:

• Colonial Properties Trust jumped 38% after the multifamily real estate investment trust announced dividends. See (NYSE:CLP).
• Deltek Inc. rose 34% as the software designer generated a big outside bullish reversal on daily charts following Monday’s swoon. See (Nasdaq:PROJ). 
• Williams-Sonoma Inc. jumped nearly 25% as the retailer operator of Pottery Barn received analyst upgrades. See (NYSE:WSM).  
• Advanced Medical Optics Inc. rose 22%, reversing a sizable decline from Monday. See (NYSE:EYE).  
• US Airways Group Inc. and Alaska Air Group Inc. were both up about 8%, as airline stocks are flying high today. See (NYSE:LCC) and (NYSE:ALK).

Small Cap Losers:

• Palm Inc. tumbled 34% as the smart phone maker lowered quarterly projections. See (Nasdaq:PALM).
• Clearwire Corp. tumbled 20% on reports that the firm may slow its high-speed WiMax wireless network progress because of the tight credit market situation. See (Nasdaq:CLWRD).  
• Skyworks Solutions Inc. gapped lower and slumped 13% after the analog semiconductor firm lowered guidance. See (Nasdaq:SWKS).

Small-cap stocks pushed higher into mid-session, supported by gains in airlines, retailers and energy stocks. Small-caps were firm relative to large-cap stocks which were pulled down by big financials and tech companies. At 12:45 p.m. ET, the Russell 2000 (NYSE:IWM) was up 3.64, or 0.80%, at 460.16.

The market was sharply divided today, with strong gains seen for several sectors, but big losses offsetting in other sectors, which had cumulative effect of keeping index movement relatively stable. Financial shares continue to be a drag on large-cap indices, with the Financial SPDR Fund off about 2%, with Bank of America (NYSE:BAC) and Well Fargo & Co. (NYSE:WFC) both down in the 2% range.

Among airline stocks, UAL Corp. (Nasdaq:UAUA) was up 7% while US Airways Group Inc. (NYSE:LCC) was up 5% and Continental Airlines Inc. (NYSE:CAL) was up 4%. Crude oil prices pulled higher amid talk of OPEC cuts and the hijacking of a big Saudi oil freighter, but the move was relatively tame and not enough to spook airline stocks. The U.S. dollar was down more than 1% against the euro, which also helped the tone in commodity stocks. General Motors Corp. (NYSE:GM) was up about 11% as the automaker continues to benefit from expectations that the U.S. government will extend a helping hand to carmakers.

The bearish story on the technology front today was supposed to be Dell Inc. (Nasdasq:DELL) following an analyst downgrade, but the PC-maker was actually up 1% at midday, so the woes in tech stocks were linked to other concerns.

Individual small caps in rally mode today included Targanta Therapeutics Corp. (Nasdaq:TARG), which jumped 34% on news that an FDA committee will review the firm’s new application for skin infections. CTS Corp. (NYSE:CTS) rallied 22% as the electronics manufacturing firm climbs out of the 52-week lows set during last week’s slide. China Southern Airlines Co. Ltd. (NYSE:ZNH) was up 16%, bolstered by reports that Chinese airlines will seek government assistance. Theravance . . .

Small-cap stocks went into freefall mode Wednesday, burdened by new plans for the troubled asset relief program (TARP), ongoing worries about corporate profitability, money flow out of equities into credit markets, further downside probing in commodities to 5-year lows and renewed concerns about consumer spending in a difficult economic environment. The Russell 2000 (NYSE:IWM) closed down 29.49, or 6.12% at 452.80, the second-lowest daily close in more than five years. For 2008, the Russell is now down 41%, while the Dow is off 38% and the S&P 500 is down 42%.

We’ve all become somewhat numb to mind-boggling daily volatility since the collapse kicked into gear, but to give some perspective, if you went back before the stock market crash began in mid-September, today’s slide would have been the largest one-day swoon of the year. Including action since mid-September, this was the eighth session sporting a loss of 5% or more.

The market was already in a fragile frame of mind this morning after Best Buy Co. Inc. (NYSE:BBY) lowered its outlook, which stirred worries about consumer spending heading toward the key holiday season. With two-thirds of the U.S. economy driven by consumer spending, a picture of rising unemployment and a dreary outlook for next year make for a troubling brew. BBY shares lost 8% on the day, while the S&P Retail Index was off 5.7%.

Then after the BBY scare, investor confidence seemed to be shaken even more by the Treasury Department’s decision to scrap the original rescue plans of using $700 billion in TARP funds to buy up toxic debt and instead divert money into more capital injections. Those investor concerns appear to be two-fold: first, there is a perception that the government still is bouncing back and forth trying to put out fires instead of having a deliberate plan of attack to help restore financial solvency. Second, there is a chance that if the government funnels billions of dollars into these financial firms it will dilute share-holder equity. The PHLX KBW Banking Index was off 6.1%.

When the TARP was first approved by Congress back on Oct. 3, the Russell was at 619.40. After putting $350 billion to “work” to rescue the market out of the credit crisis, the Russell is now at 452.80. Clearly, there is still work to be done. And the longer the market struggles the more likely it is that public frustration over . . .

Gaylord Entertainment Co. (Nasdaq:GET), Live Nation Inc. (Nasdaq:LYV) and Symmetry Medical Inc. (Nasdaq:SMA) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Layne Christensen Co. (Nasdaq:LAYN), US Airways Group Inc. (Nasdaq:LCC), Diana Shipping Inc. (Nasdaq:DSX), VIST Financial Corp. (Nasdaq:VIST), Callon Petroleum Co. (Nasdaq:CPE) and AK Steel Holding Corp. (Nasdaq:AKS).

Small-cap stocks extended the opening slide after Treasury Secretary Henry Paulson suggested that the government’s initial plan to rescue our fragile financial system by scooping up bad debt off the books of financial firms wasn’t that great of an idea after all. A lack of confidence in the rescue plan simply added to existing jitters about the economy and the corporate profit outlook. Today’s small-cap gainers are Rex Energy (Nasdaq:REXX), CTC Media (Nasdaq:CTCM) and Ticketmaster (Nasdaq:TKTM).

Other Market Watch highlights today included:

• Anything currently linked to Russia is trouble; the Russian Stock Exchange closed for 2 days to stem massive selling in Russian equities.  
• The U.S. dollar was down mildly against the euro, but absolutely tanking against the Japanese yen, losing some 2.1%.  
• Treasury markets rallied as equity markets tumbled, reflecting flight toward “safe haven” outlets and away from stocks.  
• Small caps are down neaerly 4% after Paulson said the govt. would scrap the original “rescue” plan, in lieu of a better alternative.  

Small Cap Gainers:

• Rex Energy trading up over 10% after clocking a profit in Q3 on Nov. 7. See (Nasdaq:REXX).
• CTC Media reports inducement grant under NASDAQ marketplace rule 4350. Shares up 8.4%. See (Nasdaq:CTCM).  
• Ticketmaster Entertainment posts Q3 revenue increase, removes convenience fees for certain concerts. Shares trading up 6% this morning. See (Nasdaq:TKTM).  
• FalconStor Software, Inc. up 5% on higher-than-average volume. See (Nasdaq:FALC).  

Small Cap Losers:

• Wimm-Bill-Dann Foods OJSC tumbled 24% on news that ratings agency Moody’s downgraded the firm’s debt. See (NYSE:WBD).  
• Though crude prices are down, select airlines are struggling. UAL Corp. is down 23%, US Airways is off 20% and Alaska Air is down 7.5%. See (Nasdaq:UAUA), (NYSE:LCC) and (NYSE:ALK).  
• Central European Distribution Corp., the largest vodka producer in Poland, tumbled 21%. See (Nasdaq:CEDC).  
• Hadera Paper Ltd., an Israeli company that specializes in manufacturing and recycling of paper products, was off 20% after reporting earnings. See (NYSE:AIP).  

Small-cap stocks extended the opening slide after Treasury Secretary Henry Paulson suggested that the government’s initial plan to rescue our fragile financial system by scooping up bad debt off the books of financial firms wasn’t that great of an idea after all. A lack of confidence in the rescue plan simply added to existing jitters about the economy and the corporate profit outlook. At 12:16 p.m. ET, the Russell 2000 (NYSE:IWM) was down 18.46, or 3.83%, at 463.83.

Paulson said that the government was moving toward another round of capital injections into financial institutions, scrapping the original “rescue” of buying up toxic debt as a way to utilize the $700 billion in funds targeted to rescue the market from the credit crisis. Fair or not, the immediate reaction from stock market investors to the news was that they seemed to see the announcement as another sign of a wishy-washy, “putting out fires” approach to the crisis instead of a well-thought, well-executed approach to the problems at hand.

Treasury markets rallied as equity markets tumbled, reflecting flight toward “safe haven” outlets and away from stocks. The yield on benchmark 10-year notes fell 2%. Yields move inverse to price, so the slide on yields reflected demand for the 10-year note product. The U.S. dollar was down mildly against the euro, but absolutely tanking against the Japanese yen, losing some 2.1%.

Individual small caps on the slide today included Wimm-Bill-Dann Foods OJSC (NYSE:WBD), as Russia’s largest dairy company tumbled 24% on news that ratings agency Moody’s downgraded the firm’s debt. Pretty much anything linked to Russia right now is trouble as the Russian Micex Stock Exchange closed for . . .

Small-cap stocks staged an impressive rally into midday trading, bolstered by signs of thawing in the credit market freeze, month-end bargain hunting and a renewed appetite for riskier market bets amid hope that the October collapse in equities has already priced in the worst of the economic news. Today’s small-cap gainers are Delta Petroleum (Nasdaq:DPTR), US Airways Group Inc. (NYSE:LCC) and China Eastern Airlines Corp. Ltd. (NYSE:CEA).

Other Market Watch highlights today included:

• On the radar screen for this afternoon’s trading is an appearance by Federal Reserve Chairman Ben Bernanke, who will talk about the mortgage market and the economy.  
• Looking ahead to next week, the market will get a douse of several key economic indicators, including the big employment report a week from today. 
• Today's reports on personal income, the employment cost index and consumer sentiment were rather tame and clearly overshadowed by enthusiasm that October is coming to an end.  
• Inter-bank lending rates have tumbled to the 3% zone, down some 14 consecutive trading sessions, and well off the peak above 5% at the beginning of October.  
• The top-performing sector so far today has been casinos, followed up by homebuilders, semiconductor equipment, airlines, insurance brokers, construction materials and wireless telecoms.

Small Cap Gainers:

• Delta Petroleum up 10% on Kerkorian Plan to increase holdings. See (Nasdaq:DPTR).
• US Airways Group Inc. is rallying 11% and hit the highest price since March. See (NYSE:LCC).  
• China Eastern Airlines Corp. Ltd. gapped higher and soared 27%. See (NYSE:CEA).  
• United Stationers Q3 profit rises on higher sales, one-time gains. Shares are treading 17% higher. See (Nasdaq:USTR).  


Small Cap Losers:

• Protective Life Corp. down 20% on higher-than-average volume. See (NYSE:PL). 
• CommScope Q3 profit rises; sees Q4 revenue below consensus; cuts FY08 revenue outlook. Shares are slumping 26%. See (NYSE:CTV).  
• Flagstar Bancorp clocks a loss in 2008 Q3 results; shares dive 26%. See (NYSE:FBC).
• Sunrise Senior Living announces transaction has been terminated. Shares are down 34%. See (NYSE:SRZ).  

Small-cap stocks staged an impressive rally into midday trading, bolstered by signs of thawing in the credit market freeze, month-end bargain hunting and a renewed appetite for riskier market bets amid hope that the October collapse in equities has already priced in the worst of the economic news. At 12:20 p.m. ET, the Russell 2000 (NYSE:IWM) was up 13.14, or 2.56%, at 527.32, on target for a fourth consecutive daily gain, something that hasn’t happened in five months.

Speaking of riskier bets, the top performing broad market sector so far today has been casinos, followed up by homebuilders, semiconductor equipment, airlines, insurance brokers, construction materials, wireless telecoms and health care services. On the downside, photo products, hotels, agriculture products, metal and mining stocks and gold shares were out of favor.

Inter-bank lending rates have tumbled to the 3% zone, down some 14 consecutive trading sessions, and well off the peak above 5% at the beginning of October when mistrust and fear spiked up lending rates among banks as the credit crisis fueled a run of disasters among large financial companies. During today’s rally, financial stocks were doing well, with the Financial Select Sector SPDR Fund up 2.7%.

Energy and commodity shares were a drag on the market, with the Energy Select Sector SPDR Fund down 0.3% while crude oil prices edged lower on concerns about the demand picture amid a global economic slowdown. The commodity story also was pulled down today by a resurgent U.S. dollar, with the greenback up 1.3% against the euro.

A bevy of economic reports this morning were basically in line with expectations, save for a dour reading on Midwest manufacturing seen in the Chicago purchasing manager’s survey, which tumbled to 37.8, way below the forecast of . . .

Hansen Medical Inc. (Nasdaq:HNSN), Heritage Commerce Corp. (Nasdaq:HTBK) and Insituform Technology Inc. (Nasdaq:INSU) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: IPC Holdings Ltd. (Nasdaq:IPCR), Align Technology Inc. (Nasdaq:ALGN), Silver Standard Resources Inc. (Nasdaq:SSRI), BankAtlantic Bancorp Inc. (Nasdaq:BBX), US Airways Group Inc. (Nasdaq:LCC) and Auburn National Bancorp Inc. (Nasdaq:AUBN).

Here are the biggest percentage gainers among small caps:

Buckeye Gp Holdings LP (Nasdaq:BGH), Vascular Solutions Inc. (Nasdaq:VASC) and Cascade Financial Corp. (Nasdaq:CASB) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Hawaiian Holdings Inc. (Nasdaq:HA), Chemed Corp. (Nasdaq:CHE), US Airways Group Inc. (Nasdaq:LCC), Avocent Corp. (Nasdaq:AVCT), CSG Systems International Inc. (Nasdaq:CSGS) and Encore Bancshares Inc. (Nasdaq:EBTX).

Here are the biggest percentage gainers among small caps:

EDCI Holdings Inc. (Nasdaq:EDCI), Federal Agricultural Mortgage Corp. (Nasdaq:AGM) and FirstFed Financial Corp. (Nasdaq:FED) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: SureWest Communications (Nasdaq:SURW), Citizens Holdings Co. (Nasdaq:CIZN), US Airways Group Inc. (Nasdaq:LCC), Ambac Financial Group.5.875% March 24 2103 Debentures (Nasdaq:AKT), ICx Technologies Inc. (Nasdaq:ICXT) and Midsouth Bancorp Inc. (Nasdaq:MSL).

Here are the biggest percentage gainers among small caps:

Small-cap stocks got walloped Monday when the shine from Friday’s stunning 4% rally failed to establish a solid footing as investors fretted about the details of the bank rescue plan and were hammered by a ghost from the recent past — crude oil price shocks — at an untimely moment. In the end, the Russell 2000 (NYSE:IWM) closed down 33.30, or 4.42%, at 720.44. On Friday, small caps appeared ready to burst into positive territory for the year, but today’s setback pushed the yearly tally to a loss of 5.9%, which is still much better than the 16.9% loss on the Dow, or the 17.7% slide in the S&P 500.

Crude oil soared some 15% today, the largest one-day advance in history, climbing back near $121 a barrel. With consumers already helping pay the tab to bail out investment banks and other financial institutions while facing rising unemployment, another jump in prices at the gas pump won’t help rebuild a fragile economic position.

The story in physical markets today was reminiscent of the big “short dollar/long commodities” trade that was in vogue for so long the past 24 months or so. Not only did crude oil skyrocket, but copper was up 2.5%, sugar was up 3.8%, cotton rallied 3%, soybeans were up 5% and the dollar got absolutely clobbered. The greenback slumped some 2.3% against the euro and tumbled nearly 2% versus the yen. The iPath GSCI Total Return Index Fund (a commodity tracking ETF), jumped some 4.5% on the day. With Treasuries also pulled down by supply worries tied to the financial rescue package, money flow into commodities, and away from stocks and the dollar was the only clear trend of the day. It’s only one day, but the specter of “stagflation” — one of recession-style growth and high inflation — creeps into the market psyche on days like today.

And the doubt circling the banking rescue package was clearly palpable today. The PHLX KBW Banking Index shed some 10%, while the nation’s No. 3 bank, JP Morgan Chase & Co. (NYSE:JPM) slumped 9% and the No. 5 bank, Wells Fargo & Co. (NYSE:WFC), was down nearly 12%. In addition, there was some sense that the market was facing other worries on the economy’s horizon beyond just a $700-billion bail-out of the financial industry. With inflation spiking today, shares . . .

Small-cap stocks edged higher after a soft opening, underpinned by residual support from Monday’s big GSE-led rally, and by a slide in crude oil prices, which hit multi-month lows this morning. At 10:03 a.m. ET, the Russell 2000 (NYSE:IWM) was up 2.32, or 0.32% at 735.18.

Crude oil prices slumped some $2 dollars a barrel, slipping below $104 dollars this morning for the first time in five months, as weather watchers predicted Hurricane Ike would turn south away from the primary oil production area in the Gulf of Mexico. OPEC leaders meeting in Vienna today said that output was likely to stay at current levels. Elsewhere on the commodities front, grains are called lower, softs were lower (with orange juice down 8%) and gold slipped 2% at one point during European trading overnight. The dollar extended the move to fresh 11-month highs against the euro currency, which also weighed on commodities.

Treasury products were modestly higher this morning, which reflected investor demand for less risky fare, which is a potential worry sign for equities. If money flow starts to aggressively favor credit instruments, it could pull money away from stocks, but for now the trends are in balance.

Broad market sectors on the rise this morning included automobile manufacturers, food retail stocks, hotels, publishers, internet software services, motorcycle manufacturers and restaurants. On the downside, coal remains under significant pressure. Also, fertilizer, steel, oil exploration, gold, metals and mining stocks were all taking a hit.

Individual small-caps on the move were highlighted by Korn Ferry Intl. (NYSE:KFY), which was up 8% on earnings news. US Airways Group Inc. (NYSE:LCC) climbed 7% higher, bolstered by the pullback in energy prices. On the downside, . . .

Small-cap stocks turned lower Tuesday, rejecting an impressive morning rally as financial and tech stocks failed to gain traction even with the benefit of a sharp pullback in crude oil prices. The Russell 2000 (NYSE:IWM) closed down 0.99, or 0.13%, at 738.51. For the year, the Russell is down 3.5%, which is quite a shift from the morning rally when the Russell looked poised to post one of the highest daily settlements of the year. The selling pot was stirred among large caps too, with the Dow slipping 0.2% on the day; the Dow is now down 13.1% for the year. In addition, the S&P 500 lost 0.4% Tuesday and is off 13% for 2008.

The dramatic reversal in fortune for stocks today left a mild bearish reversal formation on daily charts as the Russell closed lower after threatening to challenge move highs in the morning. In addition, when a market sinks in the face of seemingly bullish news, it is often considered a classic signal that something else is wrong. In this case, the market seems to be saying that a little relief at the gas pump isn’t enough to fix what ails the economy or the credit crisis.

It’s interesting to note too that the erosion in stocks seemed to coincide with a surge in Treasury markets. The yield on the benchmark 10-year note tumbled nearly 2% to the lowest closing level since late April. Yields move inversely to price, which means that demand for Treasury products (a traditional safe-haven) was strong today. Some of that push for a safety net seemed to move in tandem with the Fitch downgrade of paper debt for mortgage lending giants Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE). If there were concerns in the market about the government-sponsored enterprises, they didn’t really show up in the stock, as shares in FNM rose 8%, while FRE jumped 14%.

The day dawned brightly for equities as investors embraced a huge slide in crude oil prices. Even though the stock market turned lower in the afternoon, crude oil prices still lost about 5% on the day, sinking $5.75 a barrel to $109.71. The stiff decline in energy prices was accompanied by a big rally in the U.S. dollar, and a whole host of commodity markets succumbed to the pressure — all of which would seem . . .

Small-cap stocks shot higher this morning, as the bulls came charging out of the gate when crude oil prices collapsed overnight. At 10:01 a.m. ET, the Russell 2000 (NYSE:IWM) was up 12.03, or 1.63%, at 751.53.

Crude oil prices fell hard today as Hurricane Gustav hit landfall in Louisiana, but appeared to spare key Gulf of Mexico energy production facilities. At one point ahead of the stock market opening, crude oil prices were down some $9 dollars a barrel, tumbling below $107. If the energy market remains under pressure, then prices at the gasoline pump should fall, which would provide relief to consumers and shift money back toward other expenditures.

The ISM Manufacturing Survey came in at 49.9, which was just a tad above the forecast of 49.6. The market reaction to the data was relatively tame, with trader attention focused more on the commodity arena.

Small caps were pacing the early advance in equities this morning, just slightly outperforming the Dow and topping the S&P 500 by about 0.5%. Speaking of the S&P 500, that index product was testing important resistance along the 1,300 line, which has been a difficult hurdle to jump in recent weeks. Definitive price action above 1,300 could trigger some new money into stocks and prod short-covering from traders who have been successfully shorting rallies in stocks in recent weeks.

The U.S. dollar was in full rally mode this morning, parlaying the collapse in energy prices to higher territory. The greenback stormed to fresh move highs against the euro, climbing 0.9% to the highest point since early February. In addition, the dollar was up about 0.8% versus the yen. The combination of a soaring buck and sinking crude tugged at a host of commodity markets, with gold down 4% and cocoa . . .

Small-cap stocks are expected to jump higher on the opening, boosted by a selling rout in commodities and a surging U.S. dollar. The Russell 2000 (NYSE:IWM) was up about 1% in after-hours trading, which would suggest an open this morning near 746.50.

The big story so far today is a dramatic collapse in crude oil futures, which were down some 6%, sinking over $6.50 a barrel, below $109. Crude oil prices fell hard after it became apparent that Gustav did not appear to destroy major Gulf production sites. In conjunction with the oil move, other commodity markets were in freefall mode, with copper tumbling 2% in London, while aluminum was at a seven-month low and following a slide to five-month lows for nickel on Monday. Cocoa was down 5%, gold was off 2%, platinum down 3% and palladium down 5%.

The extreme decline in commodities was accompanied by a rally in the U.S. dollar. The greenback was up about 0.7% against the euro, making fresh highs while climbing to the highest point since early February. The dollar was also up 0.6% versus the yen.

Although oil stocks stand to weather a difficult session today, the benefit to airlines, consumer stocks and tech stocks should be more than enough to carry equities higher. UAL Corp. (Nasdaq:UAUA) jumped more than 15% in overnight trading, and small-cap airline US Airways Group Inc. (NYSE:LCC) was up some 16%.

In addition to the commodity-tied surge, financial shares appear set . . .

Small-cap stocks continued to climb Thursday, powered by a solid performance in financial, retail and airline stocks, by yet another “good news” economic report and by a sudden downdraft in crude oil prices. The Russell 2000 (NYSE:IWM) gained 14.85, or 2.03%, to 747.79 and is now down 2.38% on the year.

Small caps were strong relative to the S&P 500 and also broke free of a close pattern they had been keeping with tech stocks. The S&P 500 was up 1.48% and is down 11.4% for 2008, while the Nasdaq was up 0.78% and is off 8.1% for the year. Meanwhile, the Dow was up 1.85% and is down 11.6% for the year.

On the financial front, investors continue to gain confidence in government-sponsored enterprises Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE), which has become a source of great relief for banks, insurance firms and a host of other financial shares. FNM rose another 22% today has recovered over 50% from last week’s lows when investors were concerned that all the share equity in GSEs would be rendered worthless. A shakeup in management at FNM and talk that the firm’s balance sheets were not as bleak as feared powered the latest recovery move today.

The ripple effect throughout financials was easy to see, with the Financial Select Sector SPDR Fund climbing 3.8% and the PHLX KBW Banking Index up 4.0%. Big-name firms such as Citigroup Inc. (NYSE:C) and Bank of America Corp. (NYSE:BAC) both registered gains in the 5% range.

Some of the bullish psychology for today’s action was tied to this morning’s upside surprise on the GDP report, which came in at 3.3%, well above the forecast for a rise of 2.7%. The GDP report was just the latest in a friendly string of data surprises this week, including consumer confidence Tuesday and durable goods Wednesday. On its own merit, second-quarter GDP is somewhat dated since we’re nearly two-thirds of the way through the third quarter, but when the market is rallying, it’s . . .

FirstFed Financial Corp. (Nasdaq:FED), Zale Corp. (Nasdaq:ZLC) and Origin Agritech Ltd. (Nasdaq:SEED) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Targanta Therapeutics Corp. (Nasdaq:TARG), Alexza Pharmaceuticals Inc. (Nasdaq:ALXA), US Airways Group Inc. (Nasdaq:LCC), Isramco Inc. (Nasdaq:ISRL), Midwest Banc Holdings Inc. (Nasdaq:MBHI) and MGIC Investment Corp. (Nasdaq:MTG).

Here are the biggest percentage gainers among small caps:

Small-cap stocks extended the morning rise into mid-session, receiving a boost from a sudden reversal in course on crude oil prices. The day was already off to a solid start when economic data on growth came in above expectations. At 12:50 p.m. ET, the Russell 2000 (NYSE:IWM) was up 6.31, or 0.86%, at 739.26.

The volatile world of energy prices made an about face from morning highs near $120 dollars a barrel, slipping back to the $115 zone on reports that strategic petroleum reserves could be released if Tropical Storm Gustav crashed into key energy production zones in the Gulf of Mexico, stunting supplies out of that key region. Gulf output accounts for some 25% of U.S. crude production and about 15% of natural gas output.

The stock market got things off in rosy fashion this morning when second-quarter GDP came in at 3.3%, which was well above the forecast for a rise of 2.7%. The GDP report became yet another in a string of bullish data surprises this week, following consumer confidence Tuesday and durable goods orders on Wednesday. That said, some of these data series are volatile (durables and confidence) and others are relatively out of date (GDP), so clearly there are other forces at play providing a boost to the stock market.

One of those forces would appear to be month-end short-covering from hedge funds, and that buying interest has been magnified by thin volume conditions ahead of the final big summer holiday weekend in the United States. In addition to the short-covering push, financial stocks appear to be on more stable footing this week, with government-sponsored enterprises Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE) bouncing on management changes at FNM and on ideas that the mortgage funding giants might not be in as bad a sharp as feared. FNM was up 12% at midday, while FRE was up 11%. Financial stocks in general were up nearly 3% . . .

Small-cap stocks struggled to hold higher ground in morning trade, with support from a strong durable goods report offset by a big rally in crude oil prices and lingering concerns about the banking sector. At 9:55 a.m. ET, the Russell 2000 (NYSE:IWM) was up 1, or 0.14%, at 724.51.

The durable goods report topped analyst expectations, with the headline number at 1.3%, well above the forecast for a meager rise of 0.1%. The upside surprise in orders sparked a trend reversal in stock index futures ahead of the open, with S&P 500 futures gaining more than four handles shortly after the report was released. Still, it should be noted that the durables data tends to be volatile, which could dull some of the bullish impact from the report. When stripping away the transportation component on the durables release, the number was still up 0.7%, which was a positive signal. The transportation orders include huge ticket items like airplanes, which create big swings in the headline number, so many traders and analysts will focus on the ex-transportation figure for a clearer picture of business spending. The yield on Treasury products was climbing fast this morning (meaning Treasuries themselves were lower) after the data surprise, hinting that the market was starting to consider rate hikes down the road.

On the Fed policy front, Atlanta Fed President Dennis Lockhart gave a speech on inflation this morning, and said that headline CPI will peak near the July level and that the current Federal Reserve monetary policy approach is consistent with an easing in overall inflation. Reading between the lines, it looks like the Fed leans toward protecting growth at this stage and will keep rates on hold for some time.

Crude oil prices were on a rampage this morning, shooting more than $3 a barrel higher, climbing back above $119 as energy traders build a weather premium into the market just in case Hurricane Gustav plows into crude oil and natural gas production areas in the Gulf of Mexico, which would pinch supplies. The Gulf area . . .

Small-cap stocks pushed higher Friday, ending a difficult week on an up note, as crude oil prices reversed course, a legendary investor soothed market jitters and monetary policy leaders struck a reasonably upbeat tone. In the end, the Russell 2000 (NYSE:IWM) closed up 12.36, or 1.70%, at 737.60, but still lost more than 2% for the week and small caps are still down 3.7% for the year. The Dow closed up 1.73% and is now down 12.3% for 2008; meanwhile, the S&P 500 rose 1.13% Friday and is down 11.9% for the year.

Stock market watchers got a taste this week of just how fickle and tumultuous commodity markets can be when uncertainty is in the air. With all eyes on crude oil gyrations the past few days, the market for black gold collapsed down to the $112 handle a couple days ago, then shot back up above $120 the very next day. Today, the market cooled off, with crude generating the largest one-day percentage decline in some four years, backing down to $115 as a strong dollar put the brakes on demand for commodities. Still, with geopolitical tension in the mix between Russia and the United States, and with hurricane season pulsing through the tropics, stock market traders could get seasick tethered so tightly to crude oil.

Speaking of physical markets, the Commodity Research Bureau Index of 19 various commodity markets tumbled more than 2% today, as the slide was widespread beyond just the realm of energy. A big part of the decline was tied to a sudden resurgence in the U.S. dollar, which looked awful just one day earlier. Before the market opened this morning, billionaire investor Warren Buffett said on CNBC that he was not short the dollar and that the stock market was better off today than it was a year ago, which bolstered a fragile investor psyche. On Thursday, the greenback was absolutely hammered against the yen and fell hard against the euro as well, which sparked fears of a resurgence in commodities and a flight away from U.S. assets. However, the rout on the dollar proved to be very short-lived, and the buck was back near multi-month highs against many currencies today. At this stage of the economic . . .

Small-cap stocks pushed higher on the open, buoyed by a slide in crude oil prices, a bounce in the U.S. dollar, and soothing comments from billionaire investor Warren Buffett. At 10:04 a.m. ET, the Russell 2000 (NYSE:IWM) was up 8.35, or 1.15%, at 733.60, holding on to gains after the first flash of headlines from Federal Reserve Chairman Ben Bernanke.

Bernanke, speaking on financial stability, said that recent declines in commodity prices and the stability of the dollar were encouraging, and that although the inflation outlook is uncertain, that the Federal Reserve will act as needed to maintain price stability.

Buffett, nicknamed “The Oracle of Omaha” said on CNBC ahead of the opening this morning that stocks were “more attractive” today than they were a year ago and that he does not have any current bearish dollar investments. Buffett’s comments provided a lift to stock index futures and to the dollar ahead of the regular market opening.

Crude oil prices were in retreat mode this morning, unable to extend the dramatic rally from Thursday’s action. Crude oil prices were down nearly $2 dollars a barrel, hovering just below $119, weighed down by OPEC output increases. However, the market is still cautious about tensions between the United States and Russia and closely watching storm patterns trekking through the Gulf of Mexico.

The U.S. dollar was righting the ship today after a sudden freefall Thursday, which also pressured crude oil prices and a host of other commodity markets. The greenback was up some 1.2% against the yen and the pound sterling, and was up about 0.6% versus the euro. At this stage of the economic cycle a firm dollar is seen as a sign of optimism about the U.S. economy relative to other world economies, and . . .

Small-cap stocks opened higher, but quickly slipped into negative territory, pulled down by a rally in crude oil prices, which raised a caution flag about consumer spending and inflation trends. An opening burst tied to overseas stock market gains, a firm dollar and strong tech earnings failed to gain traction, but remains a positive element in play looking forward today. At 9:57 a.m. ET, the Russell 2000 (NYSE:IWM) was down 1.28, or 0.17%, at 728.80, while the Dow was off 0.34% and the tech-laden Nasdaq 100 up 0.13%.

Tech stocks were lifted by solid quarterly results from Hewlett-Packard Co. (NYSE:HPQ) as the world’s largest computer maker topped the earnings forecast. HPQ shares were up 4.3% shortly after the open.

Crude oil prices were on the rise this morning, climbing more than $1.50 a barrel back north of $116, bolstered by Goldman Sachs analysts reiterating their forecast for $149 crude oil by the end of the year. In addition, energy prices were supported by short-covering in front of today’s weekly inventory report, which is expected to show a drawdown in crude stocks of some three million barrels. The bounce in crude oil prices was taking an early toll on airline stocks, with the AMEX Airline Index tumbling 7%, with small-cap carrier US Airways Group Inc. (NYSE:LCC) off 8%. In addition to the advance in crude oil, grains prices were called solidly higher today, despite a firm tone in the U.S. dollar.

The greenback was in rally mode overnight, rising about 0.3% against both the euro and yen, which suggests some confidence from overseas investors about the U.S. economy and U.S.-tied assets — including stocks. However, those overnight gains in the buck were trimmed after stocks turned lower.

Some confidence in equities heading into the opening was linked to a big rally overnight in the Chinese stock market, which soared 7% on talk that a government stimulus plan was in the works to bolster equities and spark a slowing economy. In addition to China, stocks in Hong Kong were up 2.1%, Taiwan up 0.9%, . . .

Small-cap stocks put together a solid rally Tuesday, essentially recapturing the lost ground from Monday’s sharp decline. The market got an early boost from sinking crude oil prices, and extended those gains after the FOMC report failed to spark any fresh concerns. The Russell 2000 (NYSE:IWM) closed up 16.90, or 2.40% at 721.04. In the last three weeks, the market has generated one-day rallies of more than 2% on four occasions, which is an unusually large number of singular big-rally days jammed into such a short time frame.

Foreign exchange markets seemed to say that the Fed was on the right path, with the U.S. dollar jumping more than 100 basis points against the euro, and the dollar index climbing to the highest point since mid-June. In general, at this stage of the economic cycle, a strong greenback is seen as a sign of strength for the U.S. economy, and should encourage foreign asset flow into the U.S. stock market.

As for today’s big FOMC report, there was some mild intraday volatility associated with the statement, but the overall response was one of comfort. There is still a diversity of opinion about whether the Fed is in a position to fight inflation with tighter policy because of rising unemployment and soft economic conditions, but there also is a sense that the recent pullback in energy prices and other commodity markets may have provided the FOMC members with some valuable time and breathing room to combat a difficult situation...

PeopleSupport Inc (Nasdaq:PSPT), New Century Bancorp Inc (Nasdaq:NCBC) and Tollgrade Communications Inc (Nasdaq:TLGD) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: US Airways Group Inc (Nasdaq:LCC), Medivation Inc (Nasdaq:MDVN), Astronics (Nasdaq:ATRO), Transition Therapeutics Inc (Nasdaq:TTHI), NewMarket Corp (Nasdaq:NEU) and Aixtron ADR (Nasdaq:AIXG).

Here are the biggest percentage gainers among small caps:

Airline holding company US Airways Group Inc. (NYSE:LCC) is up more than 10% and United Airlines’ parent company UAL Corporation (Nasdaq:UAUA) is up more than 9% today because of further declines in crude prices. At 12:05 p.m. ET, crude was at $121.02 a barrel, down about $4.08 from its previous settlement. Record-high crude prices have driven up airline fuel costs, cutting into overall profit margins. As the price has continued to descend, airlines have once again soared. In today’s trading, US Airways is at $5.69, up $0.53 from Friday’s close while UAL is at $8.88, up $0.69.

Small-cap stocks spent most of the day in the green, but closed well off the intraday highs as a slide in crude oil prices was countered by mixed returns on the earnings front. The Russell 2000 (NYSE:IWM) edged up 2.36, or 0.33%, to 719.19, the highest close in four weeks.

The market also may have been ripe for a little bit of a consolidation “breather” session today as the Russell has rallied 12% off the July 15 lows in just seven sessions. Short-term intraday momentum readings were overdone coming into today’s action, which could easily have sparked some long profit-taking from traders who caught the recent bounce. Also, it’s a little easier to find the silver lining in the news when the market is oversold.

In recent days, the dominant upside theme has been the financial story. Big-name banks have had a string of upside earnings surprises, and that momentum easily spilled over into the small- and mid-cap financial names as well. While GSEs were a strong performer today, the overall financial landscape was a little more cautious, with the Financial Select Sector SPDR hovering near breakeven levels late in the session.

Large-cap stocks that dominated the picture today included McDonald’s (NYSE:MCD), Pfizer (NYSE:PFE), Boeing (NYSE:BA), AT&T (NYSE:T) and Washington Mutual (NYSE:WM). Those stocks reflected the mixed signals investors had to navigate when trying to read through earnings results to get a feel for consumer spending, economic turmoil and macro trends. Washington Mutual was clobbered 19%, which took some of the wind out of the financial sails, but was countered by optimism on the GSE horizon, as hope for a quick passage of the Treasury rescue plan lifted both Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE). As for the aforementioned names, MCD was down about 0.9% after reporting earnings, PFE was up over 3%, BA was down nearly 4% and T . . .

US Airways Group Inc. (NYSE:LCC) is up more than 21% today as the price of crude oil continues to drop. The Tempe, Ariz.-based airline company posted a second-quarter loss on Tuesday as surging fuel prices cut into its margins. Today, however, crude oil is at $124.54 per barrel at 3:30 p.m. ET, down about $3.88. US Airways is at $5.18, up $0.91 from Tuesday’s close. Trading volume is at 25 million shares, more than double the average. The shares have ranged from $1.45 to $36.12 during the past year.

Small-cap stocks hovered near steady levels in early trade, pulled down modestly at times by sporadic profit-taking from short-term traders who caught the rally Tuesday and by a mixed tone on the earnings front. However, selling was limited by an extension in the crude oil pullback and by gains in overseas stock markets. At 9:50 a.m. ET, the Russell 2000 (NYSE:IWM) was up 1.24, or 0.17%, at 718.06.

Crude oil prices were down about $1 dollar a barrel shortly after the open, supportive to stocks, but the bounce above overnight lows took some of the upside steam away from equities. The energy market has been sinking this week as Hurricane Dolly veers away from key production areas in the Gulf of Mexico and on worries about demand for high-priced crude oil amid sluggish economic conditions in the United States and new usage curbs in China.

The decline in energy prices overnight was a boon to equity markets around the world, with Hong Kong shares up 2.7%, Taiwan up 3.5%, Japan up 1%, Australia up 2%, Singapore up 3%, South Korea up 1.9% and India up 5.9%.

In conjunction with the pullback in crude oil prices, the U.S. dollar has caught a bid the last couple of days. The greenback was up about 0.3% against the euro this morning and about 0.4% versus the yen. A stronger dollar often has a bearish impact on global commodity values since so many products are priced in dollars. Also on the commodities front, grains markets are expected to trade sharply lower today amid improving Midwest weather and the firm dollar tone.

The early glimpse of “big-name” corporate earnings was a mixed bag this morning, with fast-food giant McDonald’s Corp. (NYSE:MCD) topping the forecast and rising 1% overnight, but slipping into the red shortly after the open. Also, Pfizer Inc. (NYSE:PFE), the maker of Viagra, reported solid results and rose 2.8%. Conversely, Washington Mutual (NYSE:WM) reported sloppy earnings and was down 1.2%, while Costco (Nasdaq:COST) warned they would miss the Street’s forecast . . .

Small-cap stocks posted a solid rally Tuesday, bolstered by sinking crude oil prices, a strong dollar and enthusiasm over a steady spate of merger and acquisition activity. The Russell 2000 (NYSE:IWM) rose 19.19, or 2.75%, to 716.82, marking the 9th-largest one-day gain of the year.

The recovery bounce in stocks from a morning slide was clearly paced by small caps as the Russell 2000 moved into the green well ahead of its large-cap brethren — and even well before the crude oil collapse gained momentum.

“Crude was helpful to sectors in the market, but today’s action was also dominated by a wave of earnings. The lack of material downside follow through in the financial sector post Wachovia, Keycorp and American Express sparked a bid. The market was able to shrug off the initial bearish news with surprisingly little downside, which is a big positive. In addition, M&A activity is perking up,” said Nick Kalivas, vice president, financial research with MF Global.

Kalivas said that the deal by Brocade Communications Systems (Nasdaq:BRCD) to purchase Foundry Networks Inc. (Nasdaq:FDRY) helped secure a positive tone for the market, particularly in small caps. FDRY gapped higher on huge volume today, and added some 30% to its market cap on the news.

Several airline stocks are in the small- to mid-cap range, and those stocks really took flight today as crude oil tanked. The AMEX Airline Index shot 22% higher today, and small-cap carrier US Airways (NYSE:LCC) jumped a whopping 59% despite reporting huge — but not surprising — quarterly losses. Small-cap firm Alaska Air Group Inc. (NYSE:ALK) was up 19%, while JetBlue Airways Corp. (Nasdaq:JBLU) rallied 20% and UAL Corp. (Nasdaq:UAUA) gained some 63%.

As for crude oil, the market for black gold went into a tailspin, sinking some 3% to 6-week lows. Clearly, the rise in the U.S. dollar went hand-in-hand with the plunge in crude, but one could argue that the dollar rally also played in a role in pulling down commodity prices across many markets. For instance, corn was down 3%, sugar down 3%, orange juice down 2.7% and even gold reversed overnight gains to . . .

Small-cap stocks endured another sizable decline Monday, pulled down by tension over the health of the financial arena at a time when the economy is already struggling with rising unemployment, slumping housing markets and soaring energy costs. The Russell 2000 (NYSE:IWM) shed 10.45, or 1.55%, to 664.50, the third lowest daily close since mid-March.

The closing slide in small caps was a stark difference from this morning as the market appeared poised to begin the week with a relief rally. Stock index futures jumped some 1.6% during overnight action as investors embraced a plan by government authorities to shore up the balance sheet — and market confidence — in government-sponsored mortgage giants Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE). However, that overnight rally failed to gain traction relatively quickly once the market opened today, and a wave of selling swept through banking stocks, especially within the regional banking sector and smaller banks, which took a toll on small-cap index products. Despite opening up amid 20%-plus gains this morning, FNM and FRE eventually closed down 4.2% and 5.8%, respectively.

Elsewhere on the banking front, National City Corp. (NYSE:NCC) plunged 17% after trading was halted briefly on concerns about unusual trading activity. NCC was downgraded by analysts, and the stock dropped anchor, as the unsettling tide of selling coursed through financials a day after IndyMac Bancorp Inc. (NYSE:IMB) failed, becoming the third-largest U.S. bank failure on record.

There was some sense that investors are beginning to fret about all the special bail-out programs needed to avert systemic risk on the financial landscape. After all, there are only so many rabbits that magicians at the Federal Reserve and Treasury Department can pull out of their hats. What’s more, there are some concerns that these recovery efforts could flood the debt market with so much paper that supply issues could hamper funding, or even that the world could balk at “being the buyer of last resort for U.S. government debt,” as noted in a research report . . .

Small-cap stocks plunged early Friday as a downward spiral developed among government-sponsored mortgage firms and record high crude oil prices sent equity bears on a stampede. At 10:00 a.m. ET, the Russell 2000 (NYSE:IWM) was down 3.09, or 0.46%, at 667.35, an ugly start to the day, but well off the initial morning lows.

The Michigan sentiment survey came in better-than-expected, with the headline figure at 56.6, compared with the median forecast of 55.5. The stock market appeared to bounce mildly off the lows in conjunction with the Michigan figures, but the market was already trying to mount a recovery move even before the data came out.

Fannie Mae (NYSE:FNM) collapsed some 40% shortly after the open, and similar losses were pinned on Freddie Mac (NYSE:FRE) on huge trading volume. Selling fury was fueled overnight by an article in the New York Times suggesting the government was considering a takeover of the embattled mortgage lending giants as the housing slump and credit crisis wallop the firms.

The freefall in GSEs spilled over to the rest of the financial sector, with large caps such as Wachovia Corp. (NYSE:WB) down 9%, Merrill Lynch down 6% and Lehman Bros. (NYSE:LEH) off 17%. Small-cap index products are peppered with regional and small banks, and they often have even more trouble gaining access to credit than the bigger banks, so heightened fears on the credit crunch could slice into the outperformance seen in the Russell 2000 versus large-cap index products (although in early trade, losses in the Russell 2000 were on a slower pace than its big-cap brethren).

“Retail and credit issues sparked selling yesterday and remain a concern today. Volatility is high right now. I think FNM and FRE are vulnerable to further losses, but the market is thinking that the government will aid the GSEs in some way and keep the financial system whole,” Nick Kalivas, vice president of financial research with MF Global, told SmallCapInvestor.com in an email interview.

“I think earnings news should be the main focus and Thursday’s DOW/ROH deal was bullish, but the credit environment is so uncertain and the market does not see the financing available for a host of deals. The market is cheap based on the M&A, but there may not be the liquidity or money to actually push it higher. That . . .

Small-cap stocks are expected to open higher, buoyed by a pullback in crude oil prices overnight and by short-covering amid oversold conditions following last week’s sizable decline. The Russell 2000 (NYSE:IWM) was up about 0.5% in after-hours trading, which suggests an open near 668.

Crude oil futures pulled back about $2.50 dollars a barrel overnight toward the $142 level, which is a welcome sign for equity market investors following a push to record high oil prices last Thursday ahead of a holiday weekend in the United States. Still, geopolitical tension between Iran and Israel percolates in the background and is likely to remain a supportive element.

Large-cap stocks in the news this morning that could ripple into other stocks include automakers, which are expected to rise this morning after being beaten down for months on end. Both General Motors Corp. (NYSE:GM) and Ford (NYSE:F) shares were up about 3% in after-hours trading.

Time Warner (NYSE:TWX) was up about 0.6% overnight, and could benefit from a bullish article in Barron’s magazine. Also, look for airlines to benefit from the dip in energy prices. Northwest Airlines (NYSE:NWA) was up about 4% overnight, and small-cap carrier US Airways (NYSE:LCC) was up about 2%.

Looking at the chart picture, the market is oversold on daily and intraday momentum readings, which heightens the potential for a correction or sideways consolidation early this week. The 14-period Relative Strength Index (RSI) on daily charts . . .