Stocks are reversing earlier losses as jobless claims came in line with expectations. The levels have dropped to a four year low and it looks like the labor market continues to strengthen. The question now becomes one of sustainability. Are the pieces in place for job growth to continue on into summer? The remains to be seen and the underlying numbers in the reports coupled with the constant upward revisions each week so there can be a ‘drop’ muddy the picture.
The other outlier is Europe. That multi-year soap opera refuses to end. Luckily we don’t have to talk about Greece ad nauseum this time. Spain is now the chief concern with bond yields above the pre-LTRO levels. Europe’s seeming inability to come up with a concrete solution could play havoc on the markets in the coming months. Domestically, it seems investors want to shrug off EU concerns but eventually it will have to be dealt with.
Currently the major indices are turning higher with the the Dow gaining 11, the Nasdaq 12 and the S&P 3.
Hot Stocks to Watch
NF Energy Saving Corp. (NASDAQ:NFEC) is up 75.83% today at $2.11. NFEC has traded 783 thousand shares a day so far today, way above its daily average of 14 thousand shares. NFEC shares have jumped more than 100% in the past two days. The company has a market cap of 11.18 million.
China Recycling Energy Corporation (NASDAQ:CREG) is up 53.17% this morning at $2.25. CREG has traded 951 thousand shares so far today. CREG shares have jumped over 100% since yesterday. The stock has fallen from its intraday high of over $3 earlier this morning. The company has a market cap of 101.91 million.
Shengkai Innovations, Inc. (NASDAQ:VALV) is up 14.91% today at $1.31. VALV has traded 2.3 million shares so far today, 20 times its average volume. VALV hit an intraday high of $1.75 shortly after market open and has since come down to the $1.30s. The company has a market cap of 24.45 million.
Himax Technologies, Inc. (NASDAQ:HIMX) is up 19.27% this morning at $2.29. HIMX has traded 1.1 million shares in early trading, nearly double its average volume. HIMX shares are rallying today after the company raised its first quarter profit outlook. The company has a market cap of 398.18 million.
L&L Energy, Inc. (NASDAQ:LLEN) is up 10.32% today at $2.78. LLEN has traded 1.5 million shares so far today, 7 times its daily average. LLEN shares are up today after the company signs agreement to provide 240,000 tons of coal to Chinese company. The company has a market cap of 100.55 million.
Great Wolf Resorts, Inc. (NASDAQ:WOLF) is up 12.63% this morning at $6.42. WOLF has traded 1.4 million shares today, well above its daily average of 453 thousand shares. WOLF shares are rallying today after receiving an unsolicited offer from KSL Capital Partners for $6.25 per share. The company has a market cap of 203.24 million.