Futures Indicating Higher Open Ahead of Fed Report - US Consumer Borrowing Likely to Rise Due to Hurricane Sandy Fallout
LONDON, January 8, 2013 /PRNewswire/ --
- OTC Stocks Review: Fannie Mae, Nokia Corp, World Moto, Inc.
U.S. consumers likely increased their borrowing during November, as many started spending for the holidays and consumers in the Northeast began replacing cars damaged by Hurricane Sandy. Economists forecast that consumer borrowing rose $10.8 billion in November compared with October. The Federal Reserve is due to release the report at 3 p.m. EST Tuesday.
World Moto, Inc. (OTC: FARE) continued to rise in Tuesday's trading session on Wall Street with the stock closing at 0.30 cents per share. FARE has traded from 0.06 cents - 0.30 cents since December 15th giving investors that have held the stock gains north of 500%. The volume on FARE was also substantial with $21 million being traded.
Nokia Corp (OTC: NOKBF) also continued to trade heavier than normal volume through this first full trading week of the year. NOKBF was higher by 3% on $6.7 million in Monday's trading. The stock has been edging up with small gains for the last 6 months now making it one of the top performing technology stocks in the market over that period of time.
Fannie Mae (OTC: FNMA) was back in focus in yesterday's trading with much news and speculation surrounding the stock. FNMA was up double digits, 12% on the trading day with over $6 million in volume which is high for the company.
Advanced Cell Technology (OTC: ACTC) also had a solid days trading on Monday with the stock being higher by 12% on $6.5 million traded. ACTC has been out of the limelight since earlier in December trading, but seems to be back in focus to start off the year. We will see if the company can build on this upside it has seen this week.
USA Graphite (OTC: USGT) has continued to be in focus based on its daily volume patterns for the last two weeks. USGT traded another $5 million on Monday and was higher by 7.6% on the trading day.
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