Stockhouse @ the Bell: U.S. stocks slip on sluggish retail sales; Financials slam TSX

Today on Stockhouse

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Chris Ciovacco discusses transitioning from a bear market to a bull market.

Housing stocks are betting on a real estate bottom, says Dr. Joe Duarte.

Gold price fails at top of channel, notes Mike Paulenoff.

Bud Conrad explains why the FDIC is in trouble.

Buzz on the Boards visited the Noront Resources (TSX: V.NOT, Stock Forum) and GoldQuest MiningCorp. (TSX: V.GQC, Stock Forum) Bullboards.

Top Bullboards post: “I would guess.....that gold will probably be sideways or down for the next week or so and consolidate......tomorrow’s unemployment numbers I expect will be bad, thus boosting the USD”… - From robbie25 on the Kinross Gold (TSX: T.K, Stock Forum) Bullboard.

Top Bullboard: One of Thursday’s most posted Bullboards on Stockhouse belonged to PharmaGap (TSX:V.GAP, Stock Forum).

Top blog: “It should be considered that the mass directional shift towards a Neverland of global economic bliss is not where things will be, going forward,” said Contra_Man on the ContraMan Fund blog Thursday.

For news about small stocks that made big moves in Thursday trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.

Word on Wall Street

"I think we're preparing for a leg three of the rally, powered by better-than-expected economic reports," John Merrill, chief investment officer at Tanglewood Wealth Management told CNNMoney. "The economy is starting to improve because of inventory restocking, Asian growth and government stimulus, like the Cash for Clunkers program."

Today In The Markets

Toronto stock market falls to 250-point loss on financial sector weakness

DJIA	9,256.26	-24.71
NASDAQ	1,973.16	-19.89
S&P500	997.08	-5.64
S&P/TSX	10,793.37	-253.56
S&P/TSX Venture	1,188.12	-6.87

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TORONTO, NEW YORK (CP) - The Toronto stock market fell to a sharp loss Thursday amid news that Canada's largest insurance company will cut its dividend in half.

The S&P/TSX composite index lost 253.56 points or 2.3 per cent to 10,793.37, reversing four consecutive days of gains that had seen Toronto's main index add more than five per cent. The TSX Venture Exchange fell 6.87 points to 1,188.12.

In New York, markets were also lower amid sales figures that showed U.S. shoppers remained tight-fisted in July, resulting in sluggish sales for many merchants and raising concern about the health of the back-to-school shopping season.

The Dow Jones industrial average lost 24.71 points to 9,256.26, while the Nasdaq composite index fell 19.89 points to 1,973.37. The S&P 500 slipped 5.64 points to 997.08.

Please click here for the complete U.S. and Canadian market summaries.

After-Hours News

Beazer Homes USA (NYSE: BZH)
After Thursday’s close, the company announced its results for the third quarter, including a loss from continuing operations of $27.9 million, or 72 cents per share, compared to a loss from continuing operations of $109.7 million, or $2.85 per share. The company’s total revenue was $224.7 million, compared to $455.6 million in the third quarter of the prior year.

Excellon Resources (TSX: T.EXN)
The junior miner, after Thursday’s closing bell, reported assay results for the fifth hole drilled in the 2009 drilling campaign at its Platosa Property, which intersected 1,121 g/t silver, 11.58% lead, and 9.20% zinc over an estimated true width of 3.20 metres.