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Welcome to The Daily Stock Report...brought to you by QualityStocks.Net, performance tracked daily. I'm Cathy Rankin and for Thursday May 31st we're bringing you the latest news from around the markets as well as the top movers to look out for today... (HEADLINE NEWS) In Headline News Today... Wall Street shot higher Wednesday sending the SP 500 index to its first record close in seven years. As investors grew more confident that the fed reserve will cut interest rates in the second half of the year. Cell phone maker Motorola said Wednesday it will cut 4000 jobs as a part of a cost cutting plan. The latest round of cuts means that the world's number two handset maker has plans to eliminate more than ten percent of its work force since the start of 07. Apple inc said Wednesday it will introduce the ability for Apple TV users to access the popular You Tube service on their living room televisions through its video streaming set top box. Beginning in mid June users of the Apple TV device will be able to stream videos directly from You Tube. Having overcome some early weaknesses related to another Shang Hai sell off, the market's resilience in the face of bad news got a second wind late in the day after the FOMC minutes suggest that risks seem to be fading a bit. Before the bell, the biggest sell-off on the Shang Hai composite, -6.5 percent since the one on Feb 27 that sparked widespread concern, served as a reminder that the US stock market looks ripe for a pullback. SKIP And now for our Small Cap News... brought to you by Novori Inc. (NOVO.OB) Founded in 2004, Novori Inc. (NOVO.OB) is a publicly traded independent online jewelry retailer with headquarters in Bellingham, Washington with operations in California USA The RedChip Small-Cap Investor Conference took place in San Francisco, California this week and was a great success. We will report on many of the companies that were in attendance in coming days. Tank Sports announced an update recently on the integration progress of the company's post-acquisition of Redcat Motors. Redcat Motors is an importer and distributor of off-road power-sports products from China. Minera Andes Inc. announced last month that the results of the 2006 exploration program yielded increased silver and gold reserves by approximately 71% from the reserves announced in the news release of October 24, 2005 The company also announced that a second wave of production is scheduled to commence in the Santa Cruz province, southern Argentina starting in the second quarter of this year. The goal of the drilling program is to add new reserves and resources, and to identify new veins that will increase mine life and facilitate the expansion of production at the San Jose project And that's our newsmakers, Stay tuned right here to Quality Stocks Daily for the latest news from small cap to large cap, and everything in by QualityStocks.Net where performance is tracked daily. Thank you for tuning in, I'm Cathy Rankin, Have a great day and we'll see you tomorrow, right here on the daily report.