Stockhouse @ the Bell: U.S. stocks track commodities up

Today on Stockhouse

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

Ticker Trax’s Thom Calandra gets the 'dirt' at the Hard Assets show.

This as Steven Saville examines what history tells us about the performance of gold stocks.

Top Bullboards post: “I didn’t see the interview but it sounds like Gartman framed his argument by assuming that $100+ oil was the new normal. There clearly was a $20-$25 North African fear premium built in the price of crude. I have no problem holding cpg or other high quality/high div paying oil stocks, and building a position, as oil reverts back to its normal trading range. To his point though, I do think there can be better opportunities for picking up positions in cnq and su as oil continues to revert to a more normal trading range.” From themangokid on the Crescent Point Energy (TSX: T.CPG, Stock Forum) board.

Top Bullboard:Intertainment Media (TSX: V.INT, Stock Forum) received the most reads and posts.

Top blog: RedMars presents another part of the blogger’s series about trading penny stocks in the Notes From a Cyber Trader 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

“The more commodity-sensitive industries have been driving the market either up or down,” said Wasif Latif, vice president of equity investments at USAA Investment Management Co., in an interview with Bloomberg. “One sector’s gain could be another sector’s pain. The recent decline in oil may not be that good for energy companies. However, consumer staples will do better because of lower input costs.”

Today In The Markets

Toronto stock market turns in slight loss, commodities shake off early losses

DJIA	12,695.92	+65.89
NASDAQ	2,863.04	+17.98
S&P500	1,348.65	+6.57
S&P/TSX	13,389.42	-30.32
S&P/TSX Venture	2,049.99	-20.28

Toronto & New York (The Canadian Press) - The Toronto stock market closed lower but well off the worst levels of the session as commodity prices clawed back some of the big losses from the previous session.

The S&P/TSX composite index lost 30.32 points to 13,389.42 after diving 155 points during the morning to below where the main index started the year. The improvement also followed a 222-point plunge Wednesday as worries about slowing economic conditions triggered further volatility on commodity markets.

The TSX Venture Exchange fell 20.23 points to 2,049.99.

Improving commodity prices also pushed New York markets higher with the Dow Jones industrial average closing up 65.89 points at 12,695.92.

The Nasdaq composite index gained 17.98 points to 2,863.04 while the S&P 500 index advanced 6.57 points to 1,348.65.

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

After-Hours News

NVIDIA (NASDAQ: NVDA, Stock Forum)
NVIDIA reported revenue of $962.0 million for the first quarter of fiscal 2012 ended May 1, 2011, up 8.5 percent from the prior quarter, and down 4.0 percent from $1.0 billion from the same period a year earlier. GAAP net income was $135.2 million, or $0.22 per diluted share, compared to $13.6 milion or 23 cents a year earlier. Non-GAAP net income was $165.7 million, or $0.27 per diluted share.

Kestrel Gold Inc. (TSX: V.KGC, Stock Forum)
Kestrel Gold Inc. is pleased to announce that further to the corporation's news releases dated September 15, 2010 and February 23, 2011, the TSX Venture Exchange Inc. has conditionally accepted the acquisition by the Corporation of all of the outstanding securities of Rio Diablillos S.L.R. As stated in the news release dated September 15, 2010 the corporation intends to acquire all of the issued and outstanding shares of Rio, a private corporation, incorporated under the laws of Argentina.