Stockhouse @ the Bell: Stocks extend rally

Today on Stockhouse

Your opinion matters. Submit an article to Stockhouse today at submissions@stockhouse.com. Submission guidelines can be found here.

Danny Deadlock writes about another cash-rich junior with substantial hidden value.

And, Doug Hadfield interviews an analyst, who says the copper outlook is strong through 2011.

Top Bullboards post: Writing on the Terrane Metals (TSX: T.TRX, Stock Forum) Bullboard, ggrellette noted: “I too have the stock and the warrants. Yes, at some point it will make sense to dump the stock and buy the warrants. What surprises me is the stock is up and the warrants are not. Nevertherless, buying the warrants will still allow you to participate in this stock. Lets say all of the posters are correct in their thinking that the valuation will hit $2 dollars ar grater than the warrants will trade over a dollar. I hope this helps a bit in your decision.”

Top Bullboard: Ecometals(TSX: V.EC, Stock Forum)received the most posts and the second-most reads on a day its stock popped 30%.

Top blog: littleguy123 provides a guide on how to invest in the precious metals market in his Outside the Market blog.

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

Word on Wall Street

"Clearly the Dubai issue was a jolt to the system to some degree," said Jeff Mortimer, chief investment officer at Charles Schwab, in an interview with MarketWatch. "But the market seems to have digested that shock quite well, which says to me a lot of these issues are priced into the market already. While they'll jostle it a bit, they have not been able to knock it from its perch."

Today In The Markets

Stocks climb on economic data, easing fears over Dubai debt

DJIA	10,471.58	+126.74
NASDAQ	2,175.81	+31.21
S&P500	1,108.86	+13.23
S&P/TSX	11,707.32	+260.12
S&P/TSX Venture	1,450.49	+35.43

Toronto & New York (The Canadian Press) - The Toronto stock market surged to its highest close of the year as worries about Dubai's credit problems receded and American economic reports reinforced the impression a rebound is underway.

The S&P/TSX composite index jumped 260.12 points to 11,707.32.

Investors felt more confident the Dubai debt crisis will be contained, almost a week after the emirate shocked markets when it said its investment arm, Dubai World, wanted to postpone payments on its approximately US$60 billion of debt for at least six months.

The Canadian dollar climbed 0.81 of a cent to 95.54 cents US, while U.S. dollar weakness together with data showing Chinese manufacturing activity expanded in November for a ninth straight month, sent oil up $1.09 to US$78.37 a barrel. Gold advanced $18 to a record high close of US$1,199.10 an ounce.

New York's Dow Jones industrials rose 126.74 points to 10,471.58, the Nasdaq composite index climbed 31.21 points to 2,175.81 while the S&P 500 index gained 13.23 points to 1,108.86.

The Institute for Supply Management's November index on manufacturing activity showed that the sector is still expanding. And a report on construction spending also signalled growth with the first increase in six months.

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

After-Hours News

General Motors (NYSE: GM, Stock Forum)
The automaker’s CEO, Fritz Henderson, resigned late on Tuesday. The company plans a search for a new chief executive immediately. Board of Directors chair Edward Whitacre will serve as interim CEO.

Mandalay Resources (TSX: V.MND, Stock Forum)
The company announced after hours on Tuesday that it was granted an option to purchase a 100% interest in the ElCaballo Blanco Mineral property in La Serena, Chile for up to US$2 million in cash. According to the press release, the property has the “potential to host magnetite, copper oxide, and copper sulfide deposits close to existing infrastructure in a mining-friendly region.”