Stockhouse @ the Bell: Stocks rebound on Fed optimism

Today on Stockhouse

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

Thom Calandra reports on the silver surge in this hillside town and two juniors set to benefit.

Top Bullboards post: “Given the silver inventory at the end of Q2, FCO will likely gross over $6 million in refining revenues for Q3 which will add to the net profits earned in the first half of the year. Silver Valley is undergoing a major silver mining renaissance, with the recent increase in the price of silver. Many of the former mines are being rehabilitated and silver production is once again the largest in the US... so there is lots of demand for the Sunshine Refinery facility which is readily expandable. Putting all of this together with net cash reserves in excess of $55 million, it becomes evident that FCO has a fair value well above $1.25 per share on the assets and profits of the Sunshine Refinery alone.” From TheRock07on the Formation Metals (TSX: T.FCO, Stock Forum) board.

Top Bullboard: Passport Potash (TSX: V.PPI, Stock Forum) collected the most posts and the second-most reads.

Top blog:littleguy123 describes why he believes ‘D-Day’ is near for The SPDR Gold Trust in the Outside the Market blog.

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

Word on Wall Street

"It's crazy how much the markets dropped in two days, considering that the data of the U.S. economy has actually looked pretty good," said Barry Knapp, head of equity strategy at Barclay's Capital, in an interview with Associated Press. "It just shows you how fragile the investor psychology is with Greece hanging over everything."

Today In The Markets

TSX jumps 126 points as traders await details of Greek referendum

DJIA	11,836.04	+178.08
NASDAQ	2,639.98	+33.02
S&P500	1,237.90	+19.62
S&P/TSX	12,241.76	+126.66
S&P/TSX Venture	1,622.04	+33.16

TORONTO, NEW YORK (CP) - The Toronto stock market closed higher Wednesday as commodities bounced back and powered up the influential metals and mining sector, which has been beaten down in recent sessions by an unfolding government debt drama in Europe that threatens the region's financial stability.

The S&P /TSX composite index closed up 126.66 points to 12,241.76 as stocks rallied a day after being rattled, along with most major world markets, by Greek Prime Minister George Papandreou's announcement that the country plans to put a bailout plan offered by its European Union partners to a referendum. The TSX Venture Exchange gained 33.16 points to 1,622.04.

The Dow industrials jumped 178.08 points to 11,836.04. The Nasdaq ran up 33.02 points to 2,639.98 while the S&P 500 index was up 19.62 points to 1,237.9.

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

After-Hours News

News Corp. (NASDAQ: NWS, Stock Forum)
News Corp. reported total revenue for the first quarter of fiscal 2012 of $7.96 billion, an increase of $533 million or 7% over the $7.43 billion reported a year ago. The Company reported first quarter net income of $738 million ($0.28 per share), as compared to net income of $775 million ($0.30 per share) reported a year ago.

Foran Mining Corp. (TSX: V.FOM, Stock Forum)
Foran Mining Corp. announced an 85% increase in the global tonnage of mineral resources in the indicated category and a 60% increase in the inferred category at the McIlvenna Bay Deposit near Flin Flon, Man. This increase represents the first comprehensive, independent, National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate for the Copper Stockwork Zone at the Deposit.