U.S. equities are struggling for a second successive day. On Tuesday, the Dow Jones and the S&P 500 posted losses as investors remained cautious ahead of the Federal Reserve meeting later this month.
Several Fed officials, including the Fed Chair Janet Yellen, have hinted at a rate hike during the summer months. This has come as a surprise to market participants, who were expecting the Fed to remain dovish. Market sentiment has also been weighed down today by a pullback in oil prices.
Oil has had an excellent run lately as fundamentals have started to improve amid supply outages in Canada and Libya, and declining production in the U.S. Some weak economic data in China has also hurt sentiment in trading. Data released in China earlier today showed that services activity in the world’s second-largest economy slowed down.
At last check, the Dow Jones and the S&P 500 were marginally lower. The NASDAQ is higher for a second successive day but the gains are only marginal.
Although the broader market is struggling there are some stocks bucking the trend. One such stock is Ami James Brands Inc. (OTCQB:AJBI). Based in Miami, Florida, Ami James Brands is a licensing and brand management company.
The company’s core business is rooted in the tattoo industry, with its founder Ami James being one of the most recognizable face in the tattoo world. The company sells its products under the brand name Ami James and Ami James Ink to consumers on four continents, including North America, Europe, Asia and South America.
Most recently, AJBI shares were trading 23.26% higher at $0.259 on above average volume of 884,312. The stock only trades on a daily average volume of 36,607.
AJBI shares are soaring in trading today after the company announced that it has signed a Letter of Intent (LoI) with Yellow Cab Productions Inc. to collaborate on a limited edition "Ami James" collection. Yellow Cab Productions is the owner and the exclusive licensor of "Frank's Chop Shop" merchandise, including caps, hats, t-shirts, and accessories.
Frank's Chop Shop hats and headwear are sold at all New Era flagship stores in the United States, Canada, Europe, and Asia.
Ami James, President of Ami James Brands, said that it is going to be a wonderful business venture that could really help push the Ami James brand into the mainstream of fashionable headwear.
