Today on Stockhouse
Your opinion matters. Submit an article to Stockhouse today at submissions@stockhouse.com. Submission guidelines can be found here.
Gold bugs' bet on China – a mistake? asks Boris Sobolev.
Clif Droke discusses the great missed opportunity of 2009.
From a contrarian point of view, a bottom in the dollar is near, says Jeff Clark of Growth Stock Wire.
Prepare for a monster five year gold stock run, says David Banister.
Buzz on the Boards looked in on the Forsys Metals (TSX: T.FSY, Stock Forum) and Orex Exploration (TSX: V.OX, Stock Forum) Bullboards.
Top Bullboards post: “If you look at the next two months of futures, you will see they are trading substantially higher than this month. I would think that some of that is hurricane protection.” – From ryaneaveson the Horizons BetaPro NYMEX Natural Gas Bull Plus ETF (TSX: T.HNU, Stock Forum) Bullboard.
Top Bullboard: The most posted Bullboard of the day belonged to Premium Exploration (TSX: T.PEM, Stock Forum).
Top blog: Stockhouse member caffee1 looked at gold, silver and the HUI breakouts on the Investment Uptake blog Tuesday.
For news about small stocks that made big moves in Tuesday trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
"Follow tech's lead. That sector is economically sensitive and a market leader. If the techs wane, the market will too," Marc Pado, U.S. market strategist at Cantor Fitzgerald told MarketWatch.
| Selected expected U.S. earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| Cisco Systems (NASDAQ: CSCO) |
Q4 |
$0.29 vs. $0.40 |
|
| Imperial Sugar (NASDAQ: IPSU) |
Q3 |
-$1.13 vs. -$0.79 |
|
| Murphy Oil Corporation (NYSE: MUR) |
Q2 |
$0.65 vs. $2.92 |
|
| Procter & Gamble Company (NYSE: PG) |
Q4 |
$0.79 vs. $0.92 |
|
| Sunoco (NYSE: SUN) |
Q2 |
-$0.12 vs. $0.52 |
| Selected expected Canadian earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| Agrium (TSX: T.AGU) |
Q2 |
$1.81 vs. $4.00 |
|
| Aecon Group (TSX: T.ARE) |
Q2 |
N/A vs. $0.31 |
|
|
Today In The Markets
TSX closes above 11,000 points for the first time in 10 months
|
| DJIA |
9,320.19 |
+33.63 |
 |
|
| NASDAQ |
2,011.31 |
+2.70 |
|
|
| S&P500 |
1,005.65 |
+3.02 |
|
|
| S&P/TSX |
11,018.10 |
+230.95 |
|
|
| S&P/TSX Venture |
1,195.98 |
+16.41 |
|
|
Find out how to get this data on your BlackBerry
TORONTO, NEW YORK (CP) - The Toronto stock market has closed above 11,000 points for the first time in 10 months.
The S&P/TSX composite index soared 230.95 points to 11,018.10 Tuesday, surpassing the 11,000 mark in the final moments of trading for the first time since October 1, 2008.
On Tuesday, the Dow Jones industrial average added 33.63 points to 9,320.19 while the Nasdaq composite index rose 2.70 to 2,011.31.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Kraft Foods (NYSE: KFT)
After Tuesday’s market close, the company reported its second quarter results, including net revenues of $10.2 billion, down 5.9% compared to the same quarter last year, while operating income increased 7.6% from the prior year to $1,531 million. Earnings per share were 56 cents, up from 49 cents in second quarter 2008. The company also raised its outlook for 2009 diluted earnings per share to at least $1.93 from $1.88.