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Today on Stockhouse
Jeff Clark of Casey Research says the Buzz around gold is growing louder
Jeff Berwick explains why money is not worth saving.
Top Bullboards post: Focus shifting to Canada (Yukon Gold): South of the 49th border: Default delayed: The can has been “kicked down the road.” “The more things change, the more they remain the same.” Expect the political debate to be more vitriolic and more divisive as the U.S. begins its next presidential campaign. There is hope however. Winston Churchill said of the Americans: “They have the propensity to try all the wrong decisions before they eventually get it right.’’ From bobcat 16 in the Stina Resources Ltd. (TSX: V.SQA, Stock Forum) post.
Top Bullboard:Copper Fox Metals Inc. (TSX: T.CUU, Stock Forum) received the most posts and reads.
Top blog: Karlwmiller1 posted an article which says the next three to five years for U.S. domestic natural gas producers looks very grim in the U.S. shale gas producer squeeze blog.
Word on Wall Street
"The surprisingly disappointing manufacturing report fueled a growing concern that the 'soft patch' may be with us for a while," said Jack Ablin, chief investment officer at Harris Private Bank, in an interview with MarketWatch. He was commenting on Monday's stock market activity
| Selected expected U.S. earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| Archer Daniels Midland Co. (NYSE: ADM) |
Q4 |
$0.85 vs $0.69 |
|
| Buckeye Technologies Inc. (NYSE: BKI) |
Q4 |
$0.72 vs $0.26 |
|
| Coach Inc. (NYSE: COH) |
Q4 |
$0.65 vs $0.64 |
|
| Duke Energy Corp. (NYSE: DUK) |
Q2 |
$0.31 vs $0.34 |
|
| Pfizer Inc. (NYSE: PFE) |
Q2 |
$0.59 vs $0.62 |
|
| Selected expected Canadian earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| Daylight Energy Ltd. (TSX: T.DAY) |
Q2 |
$0.00 vs -$0.16 |
|
| Detour Gold Corp. ( TSX: T.DGC) |
Q2 |
$-$0.14 vs. -$0.27 |
|
Today In The Markets
Early stock market rally on debt agreement fades after a slowdown in US manufacturing
|
| DJIA |
12,132.49 |
-10.75 |
 |
|
| NASDAQ |
2,744.61 |
-11.77 |
|
|
| S&P500 |
1,286.94 |
-5.34 |
|
|
| S&P/TSX |
CLOSED |
|
 |
|
| S&P/TSX Venture |
CLOSED |
|
|
|
(The Associated Press) NEW YORK, N.Y. - The debt deal rally lasted all of 30 minutes.
A weak manufacturing report squashed an early rally that pushed the Dow Jones industrial average up 139 points minutes after the stock market opened Monday. The Dow dropped 10.75 points or 0.09 percent to close at 12,132.49 after the Institute of Supply Management said at midmorning that U.S. manufacturing barely grew last month.
The Standard & Poor's 500 Index fell 5.34 points, or 0.41 percent, to 1,286.94. The Nasdaq Composite Index lost 11.77 points, or 0.43 percent, to 2,744.61.
Canadian markets were closed for the August 1 holiday.
Please click
here for the complete U.S. and Canadian market summaries.
After-Hours News
FMC Corporation (NYSE: FMC, Stock Forum) reported net income of $107.2 million, or $1.49 per diluted share, in the second quarter of 2011, versus net income of $65.7 million, or $0.90 per diluted share, in the second quarter of 2010. Revenue in the quarter rose to $812.2 million from $776.8 million. Pierre Brondeau, FMC president, chief executive officer and chairman, said, "We delivered another strong quarter as each operating segment achieved double-digit earnings growth.
MONARQUES RESOURCES INC. (TSX: V.MQR, Stock Forum) announced that it has entered into an asset purchase agreement for the acquisition of ten mining claims known as "the North Rupert Block", which are held by Eloro Resources Ltd. These mining claims are located in the Province of Québec, NTS Sheet 32O/14, rows 6 and 7, columns 12 to 16, CDC 2198664 to 2198673. These are enclosed in the Arques property 100% owned by the Corporation. This acquisition will therefore strengthen this area for Monarques. In consideration of the acquisition of these mining claims, Monarques has agreed to pay to Eloro $5,000 in cash and to issue 50,000 common shares in the capital of Monarques.