Today on Stockhouse
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Marin Katusa of Casey Research examines which countries are buying oil for its strategic reserves.
And, Mary Anne & Pamela Aden make their case for why gold and silver are the best investments.
Top Bullboards post: “RIM is the real deal. They are selling in over 200 countries and with over 300 phone companies. RIM has their enterprise trojan horse working in what is called the "Blackberry Enterprise Server" that gives the IT VP in every organization that buys one - 100% remote control over every Blackberry device in their network. No one on this planet has figured out better manage and control capability. The carriers get triple the revenue from every Blackberry sold. There are over 3,000,000+ java developers working on PREMIUM applications where real people will pay real money for applications that provide real economic value … I am personally all over any company who can grow quarter over quarter like RIM has and will continue to do, “ from oilsandy1on the Research In Motion (TSX:T.RIM) board.
Top Bullboard: Peregrine Diamonds (TSX: T.PGD) board received the second-most reads as its stock rocketed 95% on Friday.
Top blog: caldernet posted a report on the legal insider trading of many Canadian companies in the $100,001 Goal 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
"We had a market that got considerably overbought," said Steven Goldman, chief market strategist at Weeden & Co., in an interview with Associated Press. "We still think things should stay relatively orderly in the pullback and we're still likely to see further gains."
| Selected expected U.S. earnings releases for Monday |
| (Consensus Estimates vs. Last Year) |
|
| Cal-Maine Foods (NASDAQ: CALM) |
Q1 |
$0.26 vs. $0.47 |
|
| TRC Companies (NYSE: TRR) |
Q4 |
$ - 0.06 vs. $ - 0.86 |
|
Today In The Markets
TSX closes lower as RIM shares sell off; N.Y. lower on weak economic data
|
| DJIA |
9,665.19 |
-42.25 |
 |
|
| NASDAQ |
2,090.92 |
-16.69 |
|
|
| S&P500 |
1,044.38 |
-6.40 |
|
|
| S&P/TSX |
11,212.39 |
-73.37 |
|
|
| S&P/TSX Venture |
1,259.64 |
+3.28 |
 |
|
TORONTO, NEW YORK (CP) - The Toronto stock market closed lower Friday and lost ground for the week, weighed down by a selloff by BlackBerry maker Research In Motion Ltd. (TSX:T. RIM) after the market heavyweight delivered a disappointing earnings report.
The S&P/TSX composite index lost 73.37 points to 11,212.39, with market support coming from mining and consumer stocks in particular. The TSX Venture Exchange was up 3.28 points to 1,259.64.
The Dow Jones industrials index was down 42.25 points to 9,665.19 after the U.S. Commerce Department reported that orders for durable goods dropped 2.4 per cent in August, after increasing a revised 4.8 per cent in July, a far worse showing than the 0.5 per cent increase that investors had expected. The Nasdaq composite index was weighed down by RIM's earnings report, falling 16.69 points to 2,090.92, while the S&P 500 index declined 6.4 points to 1,044.38.
Please click here for the current U.S. and Canadian market summaries.