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 interviews John Ing, who believes gold will average $2011 in 2011 in his Stockhouse Movers & Shakers column.
Top Bullboards post: “Now...to find a new outcrop 500 metres downstrike from Section 92+00E is very exciting...the mineralization has re-surfaced a significant distance away from the last occurrence which is telling us that the system remains strong and the chances of it pushing another 500 metres further is excellent! Also, the "forces to be" were consistent throughout the entire strike length...this baby is not slowing down! The occurrences in Section 92+00E and Section 87+00E are very much alike! Remember the Sections are 500 metres apart! Most excellent indeed! I always felt that this baby had a good chance to re-surface...and...it did! I have mentioned it on occasion in previous posts...you have to go back a bit to find them...but...they are there!” From digger144 on the Trelawney Mining and Exploration (TSX: V.TRR, Stock Forum) board.
Top Bullboard:Sino-Forest (TSX: T.TRE, Stock Forum) received the most reads and posts.
Top blog: alphaflight posted an article explaining why Canadian oil is key to U.S. demand in the Alpha Flight 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
“Certainly not meeting the debt-ceiling date puts into jeopardy much more acutely our triple-A status,” said Mark Luschini, chief investment strategist at Janney Montgomery Scott, in an interview with MarketWatch. “At the moment, there is probably a better than 50% chance of at least one rating agency downgrade.”
| Selected expected U.S. earnings releases for Friday |
| (Consensus Estimates vs. Last Year) |
|
| Arch Coal (NYSE: ACI) |
Q2 |
$0.60 vs. $0.27 |
|
| Chevron (NYSE: CVX) |
Q2 |
$3.56 vs. $2.70 |
|
| Newmont Mining (NYSE: NEM) |
Q2 |
$0.98 vs. $0.77 |
|
| Ruth's Hospitality Group (NYSE: RUTH) |
Q2 |
$0.11 vs. $0.08 |
|
| Universal Stainless & Alloy (NASDAQ: USAP) |
Q2 |
$0.79 vs. $0.61 |
|
| Selected expected Canadian earnings releases for Friday |
| (Consensus Estimates vs. Last Year) |
|
| Eldorado Gold (TSX: T.ELD) |
Q2 |
$0.14 vs. $0.11 |
|
| Lundin Mining ( TSX: T.LUN) |
Q2 |
$0.13 vs. $0.09 |
|
Today In The Markets
Toronto stock market closes flat ahead of vote on Republican spending cuts
|
| DJIA |
12,240.11 |
-62.44 |
 |
|
| NASDAQ |
2,766.25 |
+1.46 |
 |
|
| S&P500 |
1,300.67 |
-4.22 |
|
|
| S&P/TSX |
13,047.78 |
+15.11 |
|
|
| S&P/TSX Venture |
1,983.95 |
-1.83 |
|
|
Toronto & New York (The Canadian Press) - The Toronto stock market closed little changed Thursday as investors frustrated with the failure of American lawmakers to raise the country's debt limit looked ahead to a vote in the U.S. House of Representatives later in the day.
The S&P/TSX composite closed 15.11 points higher to 13,047.78 as the market found support from strong earnings reports from Thomson Reuters (TSX:TRI), Potash Corp. of Saskatchewan (TSX:POT) and Canadian Pacific Railway (TSX:CP). The TSX Venture Exchange dropped 1.83 points to 1,983.95.
New York markets were mainly lower amid some good employment news. The number of people seeking unemployment benefits dropped last week by 24,000 to a seasonally adjusted 398,000, the lowest level since early April.
The Dow Jones industrial average fell 62.44 points to 12,240.11.
The Nasdaq composite index was up 1.46 points at 2,766.25 while the S&P 500 index lost 4.22 points at 1,300.67.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Expedia Inc. (NASDAQ: EXPE, Stock Forum)
Expedia Inc. announced its financial results for the second quarter ended June 30. Revenue rose to $1.02 billion in the quarter from $834 Million in the year ago period. Diluted net earnings rose to $140.4 million or 50 cents a share in the second quarter from $128.7 million or 40 cents a year earlier.
Aura Silver Resources Inc. (TSX: V.AUU, Stock Forum)
Aura Silver Resources Inc. is pleased to announce that it has uncovered a new area of bedrock gold and silver targets in the northeastern part of its Greyhound claim group. Limited prospecting of the area in 2010 located two outcroppings of sulphidized iron formation with up to 4.09 g/t Au and 3.85 g/t Au. Surface sampling of bedrock returned samples up to 6.49 g/t Au. To date, four targets have been defined for drill testing. The Greyhound Lake property is located in the central Churchill region of Nunavut, Canada.