Today on Stockhouse
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Michael Adams of Money Morning explains why he believes new Chinese futures trading supports a rally in the silver price.
Top Bullboards post: “The discovery hole is 237.6 g/t over 5.7 meters. True width is 80% indicating that the vein they hit is 4.56 meters wide. They really do not have to find much of this to have major discovery. As an example 4.56 width across a 100 meter strike * 200 Meters depth gives 91,200 cubic meters of ore, approx. 275,000 tonnes. At the discovery hole grade that would be 1.9 million ounces of gold. Considering that Abitibi Greenstone deposits generally get larger with depth and can extend 3000 meters or more at depth one can consider what they have found as potentially the tip of the iceberg. And the fact that they have found a historical hole on the same structure that ran 7 ounces across 2 meters some 1.5 km to the southeast certainly opens the door to some significant possibilities. In my opinion they need to follow the discovery hole at depth and see where it leads them. The reason this is so exciting is that these are not intercepts as a result of random nugget effect as so often occurs leading to the one hit wonders. They are as they put it “strikingly uniform over the length of the intersection.” From fairchij2 on the TomaGold (TSX: V.LOT, Stock Forum) board.
Top Bullboard: Copper Fox Metals (TSX: V.CUU, Stock Forum) collected the second-most posts.
Top blog:GermanInvestors presents the best dividend paying stock list in the Dividend Yield List blog.
For news about small stocks that made big moves Tuesday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
"I think investors are encouraged there's at least one place in the world (United States) where it's still worth investing," said Sam Stovall, chief equity strategist at S&P Capital IQ, in an interview with Associated Press. "They're not ready to give up on this bull market yet."
| Selected expected U.S. earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| Clean Harbors (NYSE: CLH) |
Q1 |
$0.58 vs. $0.39 |
|
| Devon Energy (NYSE: DVN) |
Q1 |
$1.44 vs. $1.34 |
|
| JDS Uniphase (NASDAQ: JDSU) |
Q3 |
$0.11 vs. $0.22 |
|
| Mastercard (NYSE: MA) |
Q1 |
$5.30 vs. $4.29 |
|
| Visa, Inc. (NYSE: V) |
Q2 |
$1.50 vs. $1.23 |
|
| Whole Foods Market (NASDAQ: WFM) |
Q2 |
$0.59 vs. $0.51 |
|
| Selected expected Canadian earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| Barrick Gold (TSX: T.ABX) |
Q1 |
$1.14 vs. $1.01 |
|
| First Quantum Minerals ( TSX: T.FM) |
Q1 |
$0.25 vs. $0.44 |
|
| New Gold (TSX: T.NGD) |
Q1 |
$0.10 vs. $0.12 |
|
|
Today In The Markets
Energy sector earnings, U.S. manufacturing data boost Toronto stock market
|
| DJIA |
13,279.32 |
+65.69 |
 |
|
| NASDAQ |
3,050.44 |
+4.08 |
|
|
| S&P500 |
1,405.82 |
+7.91 |
|
|
| S&P/TSX |
12,332.79 |
+40.10 |
|
|
| S&P/TSX Venture |
1,431.68 |
+7.64 |
|
|
TORONTO-NEW YORK (The Canadian Press) - Strong earnings from the energy sector and a solid reading on U.S. manufacturing pushed the Toronto stock market higher Tuesday.
The S&P/TSX composite index rose 40.09 points to 12,332.79 while the TSX Venture Exchange was up 7.64 points at 1,431.68.
The Dow Jones industrial average climbed 65.69 points to 13,279.32. The Nasdaq composite index rose 4.08 points to 3,050.44 while the S&P 500 index added 7.91 points to 1,405.82.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Yamana Gold (TSX: T.YRI, Stock Forum)
After Tuesday’s close, the gold miner reported first-quarter adjusted earnings that rose 21% to $184 million, or 25 cents per share, compared with $152 million, or 21 cent per share, in the same quarter of 2011. Revenue increased 18% to $560 million from $476 million.
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