Consumer spending increases didn’t meet expectations today, and core prices, excluding food and gas, rose at its slowest pace since 2004. These slowdowns backed the Federal Reserves decision to keep the rate unchanged at 5.25 percent, calming inflation concerns.The U.S. 10-year Treasury dropped to 5.03 percent, down .07 from yesterday’s rate. Crude prices closed today at $70.68, the highest price in the last 10 months. The dollar was choppy against the euro for most of the week, but the drop on Friday added to another week of the dollar weakening against the euro.
MAX Entertainment Holdings Inc. (OTCBB: MXEH) announced today they have signed a letter of intent with the new MMA (Mixed Martial Arts) promotion team G4 Productions. MAX Entertainment’s share price rose 40 cents today to $4.10, or a gain of 11 percent, on 3.2 million in volume. Through this agreement, G4 Productions will now exclusively produce MMA shows for MAX.
BioQuests Technologies Inc. (Pink Sheets: BQTG) stock price was up to $.045 from 39 cents, which is a gain of 15 percent, on volume of 138 thousand. BioQuest announced today that it is are partnering with CleanFreek Sports Hygiene to talk about the benefits of its antimicrobial nanotechnology to aid in athletic prevention and protection of diseases such as Staph Infection, which can be caused by bacterial growth in workout equipment.
Lyric Jeans Inc. (Pink Sheets: LYJN) updated shareholders today that they are in the process of hiring an internal auditor as a part of the company’s goal to become a fully reporting company. The company is currently working on its Spring 2008 “Lyric Culture: Fever Collection” inspired by music of the disco era and will premiere in Las Vegas this fall. Lyric’s share price gained today 3 cents, or 35 percent, to 12 cents on volume of 770 thousand.