Today on Stockhouse
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TickerTrax’s Danny Deadlock provides a review of coal, gold, oil, and S&P.
While Matt Badiali of Growth Stock Wire urges readers to buy Canadian tar sands oil insurance.
Top Bullboards post: “The Cote Lake is most definitely dipping steeply..North..North West towards Augen Claims close by. The good news for us is that not only as TRR moves towards us the deposit is getting deeper which means that they deeper they have to go the more valuable our Claims will come into play. They will have to expand the Open Pit significantly to get to the mineralization which means they must scoop up the Augen Claims in close proximity. You just cannot go straight down and get the ore, you must go around and around and around...especially when we know thus far that that deposit goes to a vertical depth of at least 500 metres...I think we are going much... much deeper!” From digger144 on the Augen Gold (TSX: V.GLD, Stock Forum) board.
Top Bullboard:Wi-LAN Inc. (TSX: T.WIN, Stock Forum) received the most reads and the most posts.
Top blog: littleguy123 argues that financial news is designed not to inform us but is disinformation to deceive us, and is concealing the farcical rigging of global markets in the Outside the Market blog.
For news about small stocks that made big moves in Thursday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
"All investors and companies these days are clinging to this Chinese demand story," said Jack Ablin, chief investment officer at Harris Private Bank, in an interview with Associated Press. "And anything that could cause that to falter could have ugly implications."
| Selected expected U.S. earnings releases for Friday |
| (Consensus Estimates vs. Last Year) |
|
| Airgas (NYSE: ARG) |
Q3 |
$0.79 vs. $0.65 |
|
| General Electric Co. (NYSE: GE) |
Q4 |
$0.32 vs. $0.28 |
|
| Schlumberger Limited (NYSE: SLB) |
Q4 |
$0.77 vs. $0.67 |
|
| Wipro Ltd. (NYSE: WIT) |
Q3 |
$0.12 vs. $0.11 |
|
Today In The Markets
TSX declines, Chinese data fuels fears about more tightening to fight inflation
|
| DJIA |
11,822.80 |
-2.49 |
 |
|
| NASDAQ |
2,704.29 |
-21.07 |
|
|
| S&P500 |
1,280.26 |
-1.66 |
|
|
| S&P/TSX |
13,331.32 |
-107.72 |
|
|
| S&P/TSX Venture |
2,247.68 |
-37.34 |
|
|
Toronto & New York (The Canadian Press) - Resource issues led the Toronto stock market lower Thursday as commodity prices retreated amid fears China will make further moves to slow its economy to deal with inflation.
The S&P/TSX composite index closed well off early lows, coming back from a 200-point deficit to finish the session down 107.72 points at 13,331.32, while the TSX Venture Exchange lost 37.34 points to 2,247.68.
New York markets were lower despite a strong earnings report from investment bank Morgan Stanley and good economic news.
The Dow Jones industrial average lost 2.49 points to 11,822.8.
The Nasdaq composite index fell 21.07 points to 2,704.29 and the S&P 500 index was down 1.66 points at 1,280.26.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Bridge Capital Holdings (NASDAQ: BBNK, Stock Forum)
Bridge Capital Holdings, whose subsidiary is Bridge Bank, National Association, a full service professional business bank headquartered in Silicon Valley, announced today it has provided a $2,000,000 line of credit to Sungevity, Inc. The financing will be used to support and expand the company's operations. "Sungevity is excited about placing our growing banking needs in the hands of Bridge Bank," said Charles Ferer, Chief Financial Officer of Sungevity.
Southern Andes Energy Inc. (TSX: V.SUR, Stock Forum)
Southern Andes Energy Inc. has announced the discovery of high grading uranium mineralization from preliminary work on its Tupuramani concession in the Macusani Uranium District, in southeastern Peru. “The results from Tupuramani are the highest grading uranium values we have seen so far from any Southern Andes projects in Peru,’’ said Nick Tintor, President and CEO of Southern Andes.