Biofuels Stock and Financial Outlook for October 10: Stock futures up; E85 pump sales low, but ethanol distribution capacity to increase
Stocks were set to open down today as major stock futures indices fell 0.2 percent overnight, as broad market investors awaited corporate earnings reports and biofuels investors looked at a variety of new data including low retail sales of E85 and increased ethanol distribution capacity.
Yesterday, the Biofuels Digest Index, a basket of public biofuels stocks, rose 1.58 percent to 99.27. The increase was the biggest one day jump since September 19. The sector was led by strong recovery my pure-play ethanol companies such as VeraSun (VSE), up 2.66 percent to $11.98, and Aventine Renewables (AVR) up 2.81 percent to $10.25.
Numerous small-cap stocks rose more than 3 percent yesterday, including Bluefire Ethanol (BFRE.OB), Bio Soluitions Manufacturing (BSLM.OB), Green Energy Resources (GRGR.PK), GreenShift (GSHF.OB) and Xethanol (XNL). Gainers led losers by 3 to 1.
In the broader markets, the Dow reached an all time high yesterday of 14164.53
