Today on Stockhouse
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Nick Barisheff provides an explanation as to why gold bullion is outperforming mining stocks.
This as Jeff Clark of Growth Stock Wire believes this sector is ready to bounce.
Top Bullboards post: “Just as a follow up to my prior post, it's worth noting that AVI Pharma is headquartered in Bothell, Washington, and that Sen Patti Murray, who is on the Senate Appropriations Committee that also oversees appropriations for DoD, represents the State of Washington. That helps provide a perspective as to perhaps why AVI Pharma was able to garner such a generous contract and upfront payment. I'm sure the merits of their technology and past affiliation with the DARPA program were key factors. Luckily, Tekmira's merger partner, Protiva Bio, has an office in Seattle, WA, so Sen Murray has some incentive to ensure Tekmira is not left out of the funding picture.” From Revello on the Tekmira Pharmaceuticals (TSX: T.TKM , Stock Forum) board.
Top Bullboard: Centurion Minerals (TSX: V.CTN, Stock Forum) received the most reads while KWG Resources (TSX: V.KWG, Stock Forum) collected the most posts.
Top blog: Risktaker77 provides some new stock picks in the Risky Picks blog.
For news about small stocks that made big moves in Friday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
"It's mostly about the poor consumer confidence numbers," said Anthony Conroy, managing director and head trader for BNY ConvergEx Group, in an interview with Associated Press. "The possibility of a double dip also starts to come to mind" for investors, he said, referring to a phrase that describes the economy falling back into recession. "We're going to see more volatility, days when there are 2 percent swings. The economy is OK. But the one concerning part of it is jobs -- that's the reason why you have poor consumer confidence."
| Selected expected U.S. earnings releases for Monday |
| (Consensus Estimates vs. Last Year) |
|
| Encore Wire (NASDAQ: WIRE) |
Q2 |
$0.12 vs. $0.03 |
|
| Halliburton Company (NYSE: HAL) |
Q2 |
$0.37 vs. $0.29 |
|
| International Business Machines (NYSE: IBM) |
Q2 |
$2.58 vs. $2.32 |
|
| Texas Instruments (NYSE: TXN) |
Q2 |
$0.62 vs. $0.20 |
|
| Tupperware Brands (NYSE: TUP) |
Q2 |
$0.97 vs. $0.86 |
|
Today In The Markets
Toronto stock market closes deep in the red on weak U.S. consumer confidence
|
| DJIA |
10,097.90 |
-261.41 |
 |
|
| NASDAQ |
2,179.05 |
-70.03 |
|
|
| S&P500 |
1,064.88 |
-31.60 |
|
|
| S&P/TSX |
11,569.65 |
-172.12 |
|
|
| S&P/TSX Venture |
1,379.47 |
-7.39 |
|
|
TORONTO-NEW YORK (The Canadian Press) - The Toronto stock market ended Friday deep in the red after a much weaker-than-expected consumer confidence report south of the border and some disappointing earnings from key U.S. companies.
The S&P/TSX composite index lost 172.12 points to 11,569.65 amid a broad-based decline in commodities tied to ongoing uncertainty about the strength of the economic recovery. The index was flat on the week, down 0.8 of a point. The TSX Venture Exchange fell 7.39 points to 1,379.47.
All the major New York indexes tumbled with the Nasdaq ending the session down more than three per cent. The Dow Jones industrial average lost 261.41 points to 10,097.90. The Nasdaq composite index plunged 70.03 points at 2,179.05 while the S&P 500 index fell 31.60 points to 1,064.88.
Please click here for the complete U.S. and Canadian market summaries.