Today on Stockhouse
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An updated look at the big picture, from Jeff Clark of Growth Stock Wire.
It’s decision time for investors, say David & Eric Coffin.
The Euro is poised to take off, notes Mike Paulenoff.
China to buy into Canadian potash projects in Africa, explains Marc Davis.
Buzz on the Boards visited the Adriana Resources (TSX: V.ADI, Stock Forum) Bullboard.
Top Bullboards post: “Very few if any gold stocks seem to be doing anything. Most small cap companies in production with PE's of 1 to 3. There just seems to be no confidence in the price of gold going forward despite what all the bulls are saying. The powers that be have a stranglehold on the POG and they are not going to let it go above $1000 for any length of time.” – From maurizion on the Yamana Gold (TSX: T.YRI, Stock Forum) Bullboard.
Top Bullboard: The Nuvo Research (TSX: T.NRI, Stock Forum) Bullboard was the most posted and most read board this week.
Top blog: The Stox Pix blog by StoxRok has had the most comments over the last seven days.
For news about small stocks that made big moves in Friday trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
"The debate between whether the market should focus on green shoots or current weak demand and over supply goes on," Phil Flynn, vice president at futures trading and research firm PFG BEST Research told MarketWatch.
| Selected expected U.S. earnings releases for Monday |
| (Consensus Estimates vs. Last Year) |
|
| Amgen (NASDAQ: AMGN) |
Q2 |
$1.16 vs. $1.14 |
|
| Cal-Maine Foods (NASDAQ: CALM) |
Q4 |
$1.13 vs. N/A |
|
| Honeywell (NYSE: HON) |
Q2 |
$0.60 vs. $0.96 |
|
| RadioShack Corporation (NYSE: RSH) |
Q2 |
$0.28 vs. $0.35 |
|
| Verizon (NYSE: VZ) |
Q2 |
$0.63 vs. $0.67 |
| Selected expected Canadian earnings releases for Monday |
| (Consensus Estimates vs. Last Year) |
|
| Cott Corporation (TSX: T.BCB) |
Q2 |
US$0.15 vs. $0.04 |
|
| Addax Petroleum (TSX: T.AXC) |
Q2 |
N/A vs. $1.88 |
|
Today In The Markets
Toronto market closes slightly higher; New York mixed on disappointing earnings
|
| DJIA |
9,093.24 |
+23.95 |
 |
|
| NASDAQ |
1,965.96 |
-7.64 |
|
|
| S&P500 |
979.26 |
+2.97 |
|
|
| S&P/TSX |
10,687.90 |
+12.22 |
|
|
| S&P/TSX Venture |
1,143.95 |
+6.16 |
|
|
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TORONTO, NEW YORK (CP) - The Toronto stock market closed slightly higher Friday as oil prices resumed their climb amid investor optimism that the recession is over, at least in Canada.
The S&P/TSX composite index edged up 12.22 points to finish the week at 10,687.90. The index was up three per cent on the week, its second positive week in a row.
The Nasdaq composite index fell 7.64 points to 1,965.96, weighed by shares in Microsoft and Amazon, which fell $7.38 or seven per cent to US$86.49.
The Dow Jones industrial average edged up 23.95 points to 9,093.24, while the S&P 500 index added 2.97 points to 979.26.
The TSX Venture Exchange moved up 5.63 points to 1,143.42.
Please click here for the current U.S. and Canadian market summaries.
After-Hours News
Enbridge Energy Partners (NYSE: EEP)
After Friday’s market close, the company reported its financial results for the second quarter, including net income of $117.5 million, or 88 cents per unit, compared with $58.8 million or 49 cents per unit in the same quarter of last year. Adjusted net income was $100.6 million or 74 cents per unit. The company also declared a cash distribution of 99 cents per unit payable August 14 to unitholders of record on August 6.