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.
Nick Barisheff debates gold versus fiat currency, discussing which has prevailed after 40 years.
Top Bullboards post: "One reason I like TCF is that its economics will only be affected by the western world in that we are the ones trading it. Another is that the government is behind the development. Another is the proximity of the refinery." From Rubberbandman on CBM Asia Development (TSX: V.TCF, Stock Forum)
Top Bullboard:Wi-LAN Inc. (TSX: T.WIN, Stock Forum) received the most reads and the third-most posts.
Top blog: littleguy123 believes crumbling infrastructure symbolizes the U.S. economy in the Outside the Market blog.
Word on Wall Street
"The corporate fundamentals for a lot of these stocks are OK, but it's the overseas stuff that is hard to control and making investors nervous," said Anthony Conroy, head trader with ConvergEx, in an interview with CNNMoney.
| Selected expected U.S. earnings releases for Monday |
| (Consensus Estimates vs. Last Year) |
|
| Focus Media Holding (NASDAQ: FMCN) |
Q2 |
$0.37 vs. $0.30 |
|
| Perfect World Co. (NASDAQ: PWRD) |
Q2 |
$0.57 vs. $0.55 |
|
| Raven Industries (NASDAQ: RAVN) |
Q2 |
$0.51 vs. $0.46 |
|
| Standex International (NYSE: SXI) |
Q4 |
$0.77 vs. $0.64 |
|
| Selected expected Canadian earnings releases for Monday |
| (Consensus Estimates vs. Last Year) |
|
| None Expected () |
|
|
|
Today In The Markets
Toronto stock market posts triple digit loss as recession fears linger
|
| DJIA |
10,817.65 |
-172.93 |
 |
|
| NASDAQ |
2,341.84 |
-38.59 |
|
|
| S&P500 |
1,123.53 |
-17.12 |
|
|
| S&P/TSX |
12,007.47 |
-179.24 |
|
|
| S&P/TSX Venture |
1,764.84 |
-5.79 |
|
|
(The Canadian Press) TORONTO-NEW YORK - The Toronto Stock Exchange closed in a triple-digit decline as investors fretted about whether the U.S. and global economies are headed for another recession.
The S&P/TSX composite index lost 179.24 points to 12,007.47.
In New York, the Dow Jones industrial average shed 172.93 points to 10,817.65. The S&P 500 index lost 17.12 points at 1,123.53 and the Nasdaq composite index was down 38.59 of a point at 2,341.84.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Birch Lake Energy Inc. (TSX: V.BLK, Stock Forum) announced its intention to complete a non-brokered private placement offering of up to 2,500,000 common units at $0.16 per common unit and up to 3,000,000 flow-through units at $0.20 per flow-through unit, for aggregate total gross proceeds of up to $1,000,000. Each common unit will consist of one common share and one common share purchase warrant. Each flow-through unit will consist of one common share to be issued on a "flow-through" basis and one common share purchase warrant. Each whole common share purchase warrant will entitle the holder thereof to acquire one common share at a price of $0.30 per share for a period of one year after the closing.