Stocks surge on strong earnings reports from Intel Corp. and JPMorgan Chase & Co.

JPMorgan Chase, the first major bank to report third-quarter earnings, stoked the market’s optimism as it handily beat Wall Street’s expectations, reporting a profit of $3.59 billion for the July-September period. However the bank also said loan losses are still high and are likely to remain so for some time.

Intel also beat analysts’ estimates, reporting a smaller-than-expected decline in profit and sales after the market closed Tuesday. The leading chip maker said it expects sales in the final period of the year to top analyst projections, raising hopes that the computer market was improving.

A smaller-than-expected decline in retail sales for September underpinned the market’s early gains.

The Commerce Department said retail sales declined 1.5 percent last month as car sales tumbled following the end of the government’s Cash for Clunkers program. While that was the largest monthly decline this year, it was not nearly as big as the 2.1 percent drop analysts had expected. Excluding autos, retail sales rose 0.5 percent, better than the 0.2 percent increase analysts forecast.

The dollar slumped to a fresh 14-month low against other major currencies as investors’ appetite for risk increased, sending gold to another record high of $1,072 an ounce. Oil prices rose above $75 a barrel for the first time in a year.

Treasury prices fell as investors abandoned safe-haven assets for stocks and commodities.

The Dow rose 83.43, or 0.9 percent, to 9,954.49. The Standard & Poor’s 500 index rose 11.20, or 1.0 percent, to 1,084.39, and the Nasdaq composite index rose 20.75, or 1.0 percent, to 2,160.64.

Yesterday’s Top Performing Small Cap Stock:

Biomedical Technology Solutions Holdings, Inc. (OTC BB: BMTL) was a eXpressIR top performer yesterday closing up over 6% on trading volume of 9,230 shares.

Biomedical Technology Solutions Holdings, Inc. is pleased to announce significant developments on the commercialization of its Demolizer Home unit, a safe and environmentally friendly biomedical waste disposal device designed to enable diabetics and others using syringes at home to safely destroy their sharps waste and dispose of it in the regular trash or send it to a BMTS’ recycling partner. Through treatment in the Demolizer Home unit, used syringes and lancets are sterilized and grossly melted so that they cannot be reused and no longer pose a risk of infection. BMTS’ engineers have neared conclusion of the design aspects of the device and have progressed it from conception to bench testing and are implementing the patent process.

In 2006, an estimated 8 million people in the U.S. administered 3 billion injections at home annually. Most of these contaminated syringes end up in the ordinary municipal waste stream posing a sizeable risk to public health and sanitation workers. With the changing demographics, the number of self-administered injections in the U.S. is expected to grow 165% over the next ten years. That translates to 21 million people administering 8 billion injections by 2016.

Today’s eXpressIR Hot Stock to Watch:

Viper Networks, Inc. (Pink Sheets: VPER)

Viper Networks, Inc. and Cirilium India Pvt. LTD announced today that the Company’s operations in Singapore have been launched through Globalcom Information Services Pte. Ltd. (“GIS”).

As previously announced, the Company entered into an Agreement with GIS, a leading global Infocomm service provider in the Asia-Pacific region; for sales, distribution and other value-added services for its recently awarded India telecom license.

Mr. Farid Shouekani, President of Viper Networks, comments: “We are extremely pleased to commence sales and operations for our first route as part of our India Joint Venture. To meet projected revenue and ramp sales as quickly and efficiently as possible, we are earnestly pursuing some of the largest telecommunications providers for various sales, distribution and carrier agreements for all approved countries and this official launch is a direct example of those efforts. Further, the comprehensive agreements signed with Globalcom, were followed by complete interoperability testing and our successful network deployment.”