Today on Stockhouse
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James Turk of GoldMoney.com examines the relationship between the Fear Index and gold price.
This as Frank Curzio of Growth Stock Wire argues that it's time to buy financials.
Top Bullboards post: “Nice to see 9 holes at Boulevard already completed and at the lab. News flow should be heavy from this point forward. Also interesting to consider that the 9 holes completed were at a total length of about 1200 meters. Whatever they are targeting is very shallow which could excite the market from a cost of mining perspective (provided they find something). I know Kaminak's intervals were also very shallow and look how their share price performed.” From zadman on the Silver Quest Resources (TSX: V.SQI, Stock Forum) board.
Top Bullboard: Gold Bullion Development (TSX: V.GBB, Stock Forum) received the most reads and the second-most posts.
Top blog: sydenham makes a case for this copper/moly junior in the Under the Radar 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
"When we go back to earnings and fundamentals, companies are delivering," said Tom Karsten, senior managing partner at Karsten Financial, in an interview with Associated Press.
| Selected expected U.S. earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| Acergy SA (NASDAQ: ACGY) |
Q2 |
$0.27 vs. $0.19 |
|
| ASML Holding NV (NASDAQ: ASML) |
Q2 |
$0.57 vs. $ - 0.33 |
|
| iGATE Corporation (NASDAQ: IGTE) |
Q2 |
$0.17 vs. $0.11 |
|
| Landstar System (NASDAQ: LSTR) |
Q2 |
$0.48 vs. $0.37 |
|
| Marriott International (NYSE: MAR) |
Q2 |
$0.28 vs. $0.23 |
|
| Winmark (NASDAQ: WINA) |
Q2 |
$0.30 vs. $0.22 |
|
| Selected expected Canadian earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| Corus Entertainment (TSX: T.CJR.B) |
Q3 |
$0.40 vs. $ - 1.81 |
|
Today In The Markets
Stocks advance, Alcoa report boosts hopes for strong Q2 earnings season
|
| DJIA |
10,363.02 |
+146.75 |
 |
|
| NASDAQ |
2,242.03 |
+43.67 |
|
|
| S&P500 |
1,095.34 |
+16.59 |
|
|
| S&P/TSX |
11,672.84 |
+107.08 |
|
|
| S&P/TSX Venture |
1,384.11 |
+13.98 |
|
|
TORONTO-NEW YORK (The Canadian Press) - The Toronto stock market racked up a solid gain after aluminum giant Alcoa Inc. reported quarterly earnings and revenue that beat expectations.
The S&P/TSX composite index gained 107.08 points to 11,672.84, while the TSX Venture Exchange was 13.98 points higher at 1,384.11.
Alcoa also kicked off the second quarter U.S. earnings season with a forecast that global consumption of aluminum will grow this year by more than it had forecast just three months ago.
The Canadian dollar moved up 0.35 of a cent to 96.74 cents US. Oil was up $2.20 at US$77.15 a barrel.
New York's Dow Jones industrials jumped 146.75 points to 10,363.02. The Nasdaq composite index climbed 43.67 points to 2,242.30 ahead of an earnings report after the close from chip giant Intel. Meanwhile, the S&P 500 index rose 16.59 points to 1,095.34.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Intel Corp. (NASDAQ: INTC, Stock Forum)
Intel Corp. beat analysts forecasts by reporting a second quarter profit of US$2.9 billion or 51 cents a share, compared to a los of $398 million or 7 cents in the same period last year. The company said second quarter revenue of $10.8 billion marked a 34% increase from $8 billion a year earlier. It was the best quarter in the company’s 42-year history.
NovaGold Resources Inc. (TSX: T.NG, Stock Forum)
NovaGold Resources Inc. announced the results of its second quarter ended May 31, 2010. The Company reported a second quarter net loss of $15.8 million (or $0.07 basic and diluted loss per share) compared to a net loss of $4.8 million (or $0.03 basic and diluted loss per share) for the corresponding period in 2009.