Monthly Archives: August 2014

S&P 500: Best August in 14 Years, Small Caps and Micro Caps Gain

As it usually is for the day before a holiday weekend, trading was light as stocks overall posted modest gains across the board.

Small Cap and Micro Cap indexes posted higher percentage gains with the Russell Micro Cap up 0.84% and the Russell 2000 (Small Cap) up 0.72% for the day.

“The U.S. economy continues to show strength, and deflation in Europe is getting worse, and spreading through the euro zone, as we saw in CPI numbers today, which brings us back to the fact that sooner or later (European Central Bank President Mario) Draghi is going to have to use some sort of quantitative easing. That’s a positive, also for U.S. stocks,” said Cardillo.

“The drug effect of liquidity in the marketplace continues to be the positive factor,” Cardillo added.

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SEC and Justice Dept Investigate Firm Over Penny Stocks & Laundering

U.S. regulators are investigating  Oppenheimer Holdings for money laundering, penny stock sales and failure to supervise a broker that is no longer with the firm.

In March, the SEC and the Justice Dept. charged Vladimir Eydelman with securities fraud. Eydelman had worked for more than a decade at Oppenheimer in New York City, before leaving in 2012.

 

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