Stocks are mostly flat today in choppy trading as uncertainty in Europe keeps the market lower. Producer prices fell 1% in May as energy costs dropped the most since March 2009. Retail prices fell again last month, dropping 0.2% in May according to the Commerce Department.
Consumers saw a bit of good news too as oil prices slipped even though inventory data showed crude supplies dip last week. Oil traders will be watching the OPEC meeting later this week to see if any big news comes from it.
With about 2 hours left in the trading day the Dow is down 24 points, the Nasdaq is down 6 points and the S&P 500 is down 2 points.
Biostar Pharmaceuticals, Inc. (NASDAQ:BSPM) is up 49.63% this afternoon at $1.6001. BPSM has seen heavy volume today with over 1.5 million shares traded. Many times higher than its normal volume of around 60 thousand shares. Biostar Pharmaceuticals is rallying today on news it will join Fmmu to conduct clinical trials for Viacom drug.
Chelsea Therapeutics International Ltd. (NASDAQ:CHTP) is up 18.42% today at $1.35. CHTP is trading above average volume today with more than 2 million shares traded. The stock typically trades 1.3 million shares a day.
Dendreon Corp. (NASDAQ:DNDN) is up 20% this afternoon at $7.52. The stock has traded triple its average volume with 18.3 million shares traded. DNDN shares are trying to bounce back after taking a more than 30% hit over the past month.
KIT digital, Inc. (NASDAQ:KITD) is up 15% today at $3.8750. KITD has traded 1.1 million shares today and averages close to 1.7 million shares a day. KITD shares have gained nearly $1 a share over the past few days.