Stocks edge higher as unemployment claims dipped unexpectedly and housing starts grew at a slightly slower pace than anticipated

The gains follow a strong run for stocks. The market has risen eight of the past nine days and the Standard & Poor’s 500 index is up 58 percent from a 12-year low in early March.

Many economists consider unemployment the biggest obstacle to an economic recovery so signs of improvement are welcome for investors who have been looking for evidence that a recovery is at hand.

The Labor Department said workers filing for jobless claims for the first time dipped to 545,000 last week from an upwardly revised 557,000 the previous week. Economists polled by Thomson Reuters were expecting claims to rise.

It was the lowest level of new claims since early July, indicating job cuts could be easing. However, those continuing to file for claims increased to 6.2 million. Economists were expecting continuing claims to total about 6.1 million.

Separately, the Commerce Department said housing starts increased in August to their highest level in nine months amid a jump in apartment building. Housing starts rose 1.5 percent to an annual rate of 598,000 units last month, just below the 600,000-unit pace economists had forecast.

In midmorning trading, the Dow Jones industrial average rose 22.82, or 0.2 percent, to 9,814.53. On Wednesday, the Dow jumped 108 points to a high for the year.

Yesterday’s Top Performing Small Cap stock:

Mantra Venture Group Ltd. (OTC BB: MVTG) was a eXpressIR top performer yesterday closing up over 8% on trading volume of 236,424 shares.

Mantra Venture Group Ltd. (‘Mantra’, OTCBB: MVTG, FSE: 5MV) is pleased to announce that it has been selected to participate in the Metro Vancouver 2010 Partnership Investment Program – an initiative by Metro Vancouver Commerce (MVC) to bring together some of the world’s top business leaders during the 2010 Olympic games being held in Vancouver, British Columbia. MVC will be inviting a consortium of 50 companies from around the world for the event, including global leaders in environmental technologies, renewable energies, Ag-biotech/agri-food, green building products, financial and business services and more.

Today’s Hot Stock to Watch:

The Wyncrest Group, Inc. (Pink Sheets: WNCG)

As was announced on July 28th, 2009, The Wyncrest Group, Inc., a niche insurance consortium, today reaffirms that its pending acquisition of Florida Insurance Consulting Inc. is moving forward towards an agreement on the terms for the acquisition. Wyncrest has been provided with (FIC) financials and is in the process of its due diligence. The acquisition is still targeted for completion in the 4th quarter. Once again, this acquisition is an important key to our growth in the Latin American markets. With the huge growth of the Spanish speaking population in the US, many markets are underrepresented and many families and businesses need an insurance and financial services provider.

Wyncrest plans to acquire insurance and financial services businesses and capitalize their most valuable asset of interest being the customer database with servicing contracts. These acquired customers and agent relationships provide immediate cash flow with little variable cost with fertile prospects for add on business with new clients and affiliate agents.