Stockhouse @ the Bell: U.S. stocks down on debt impasse

Today on Stockhouse

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Get the facts on gold investing including eight exclusive feature stories in the Stockhouse North American Gold Report.

Peter Kennedy reports on why Dundee thinks gold stocks are still a bargain in his Stockhouse Movers & Shakers column.

Top Bullboards post: “3.06 g/t gold equiv is about $150/tonne rock.

We are a long way from knowing the scope and tonnage, but just a rough calculation for 120m of 3.06 yields:

120 vertical meters
x 10m radius squared
x pi 3.14
=37,680 cubic meters
x 2 tonnes per cubic meter
=75,360 tonnes around that one drill hole.

At about $150/tonne contained metals gives us $11 million of ore if the grade is fairly consistent within 30 foot radius. A few more holes in that area and those tons start becoming inferred and then probable.” From dwyoming on the Marifil Mines (TSX: V.MFM, Stock Forum) board.

Top Bullboard:Copper Fox Metals (TSX: V.CUU, Stock Forum) received the most reads on a day its share price rose more than 8%.

Top blog: LexLuthor2 believes this is one of the cheapest gold stocks out there in The Lex Corp News Letter blog.

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

Word on Wall Street

"Until this debt ceiling issue is fully resolved, the market will bounce around," said Matt King, chief investment officer at Bell Investment Advisors, in an interview with CNNMoney. "This is the No. 1 issue for investors, and they don't have a ton of confidence right now."

Today In The Markets

Toronto stock market little changed, government debt worries linger

DJIA	12,571.91	-15.51
NASDAQ	2,814.23	-12.29
S&P500	1,325.84	-0.89
S&P/TSX	13,340.83	+7.91
S&P/TSX Venture	2,017.86	+24.39

Toronto & New York (The Canadian Press) - The Toronto stock market closed little changed Wednesday with traders disinclined to extend a solid gain from the previous session amid government debt worries.

The S&P/TSX composite index added 7.91 points to 13,340.83 a day after traders responded enthusiastically amid signs of progress in raising the US$14.3-trillion debt limit to avoid default after President Barack Obama backed a bipartisan plan.

The TSX Venture Exchange gained 24.39 points to 2,017.86.

New York markets were slightly lower after hopes for an agreement on raising the debt ceiling sent the Dow Jones industrials up 202 points Tuesday, its biggest gain this year.
On Wednesday, the Dow industrials closed down 15.36 points 12,572.06.

The Nasdaq composite index lost 12.29 points to 2,814.23 while the S&P 500 index slipped 0.89 of a point to 1,325.84.

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

After-Hours News

Intel Corp. (NASDAQ: INTC, Stock Forum)
Intel Corp. reported its fifth consecutive quarter of record revenue, with double-digit revenue growth across all business segments. The company said revenue in the second quarter was $13.0 billion, an increase of 21% from $10.77 billion in the equivalent 2010 period. Net income in the period was $3 billion or 54 cents, compared to $2.9 billion or 51 cents a year earlier.

Augen Gold Corp. (TSX: V.GLD, Stock Forum)
Augen Gold Corp. said it has retained Phoenix Advisory Partners, one of Canada's leading proxy solicitation firms and information agents, to help Augen Gold ensure that shareholders of Augen Gold have proper information in relation to the announcement by Trelawney Mining and Exploration Inc. (TSX: V.TRR, Stock Forum) of its unsolicited offer to acquire all of the outstanding shares of Augen Gold in exchange for shares of Trelawney.