Today on Stockhouse
Your opinion matters. Submit an article to Stockhouse today at submissions@stockhouse.com. Submission guidelines can be found here.
Matt Badiali of DailyWealth explains why China is about to buy a lot more silver.
While Jeff Clark of Growth Stock Wire suggests that financial stocks are set for a big fall.
Top Bullboards post: JakeSavage shares a news story that could be bullish for cobalt stocks.
Top Bullboard: Horizons BetaPro NYMEX Natural Gas Bull Plus ETF (TSX: T.HNU) received the most posts and reads on Friday.
Top blog: fredski points to an article that explains why platinum is in short supply in the Carpe Diem blog.
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 challenge that the market has right now is that the bar of expectations continues to be raised," with many bulls having already placed bets on a global economic rebound, said Alan Gayle, director of asset allocation at the mutual-fund firm RidgeWorth Investments, in an interview with MarketWatch. "Anything that might prevent the improved economic activity from translating into higher top-line sales growth will cause investors to pause."
| Selected expected U.S. earnings releases for Monday |
| (Consensus Estimates vs. Last Year) |
|
| Accuray Incorporated (NASDAQ: ARAY) |
Q4 |
$0.03 vs. $0.00 |
|
| China Nepstar Chain Drugstore (NYSE: NPD) |
Q2 |
$0.04 vs. $0.08 |
|
| Noah Education Holdings (NYSE: NED) |
Q4 |
$0.02 vs. $0.10 |
|
| Winn-Dixie Stores (NASDAQ: WINN) |
Q4 |
$0.27 vs. $ - 0.09 |
|
Today In The Markets
Stock markets jump as Fed chief Bernanke says economy near recovery
|
| DJIA |
9,505.96 |
+155.91 |
 |
|
| NASDAQ |
2,020.90 |
+31.68 |
|
|
| S&P500 |
1,026.13 |
+18.76 |
|
|
| S&P/TSX |
10,831.18 |
+130.67 |
|
|
| S&P/TSX Venture |
1,191.95 |
+7.56 |
|
|
Find out how to get this data on your BlackBerry
TORONTO, NEW YORK (CP) - The Toronto stock market closed sharply higher as investors bought shares across most sectors after U.S. Federal Reserve chairman Ben Bernanke said the U.S. economy is on the verge of a long-awaited recovery.
The S&P/TSX composite index closed up 130.67 points to 10,831.18 as sentiment also improved in the wake of oil prices that hit 2009 highs and positive U.S. housing sector data. The Canadian dollar rose 0.46 of a cent to 92.43 cents U.S. and the TSX Venture Exchange was ahead 7.56 points to 1,191.95.
In New York, the Dow Jones industrials surged 155.91 points to 9,505.96, gaining 184.56 points or 1.99 per cent on the week. The Nasdaq composite index jumped 31.68 points to 2,020.9 while the S&P 500 index gained 18.76 points to 1,026.13.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
iCo Therapeutics (TSX: V.ICO)
After Friday’s close, the re-profiling company focused on re-dosing or reformulating drugs with clinical history for new or expanded indications said its second-quarter loss shrunk to $556,886 from a loss of $671,290 during the same period last year.