Today on Stockhouse
Frank Holmes offers advice on investing in an emerging market like China.
Jordan Roy-Byrne explains why deflation is a catalyst for precious metals.
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Top Bullboards post: That’s pretty great. One more decent deal and we could be looking at a new 52-week high. TSX is one fire today. Nothing but green on all my Canadian tech stocks. Feels good after the beating miners and clean tech have been taking lately. From Kulewater om the Xebec Adsorption Inc. (TSX: T.XBC, Stock Forum) board.
Top Bullboard: Intertainment Media Inc. (TSX:V.INT, Stock Forum) was the most posted bullboard and received the second highest number of reads.
Top blog: The market’s main stock index hit its highest level in nearly two months on today (Monday) which is now being led by mining and energy shares, as we all hope of further monetary easing by central banks, helped to allay worries about the impact of the euro zone crisis. The Toronto Stock Exchange's S&P/TSX composite index was up 256.39 points, or 2.2 percent, at 11,852.95, its highest level since May 7. We have seen our portfolio move up slowly from out May 18 low. Very nice - also note we are flippers but not day traders, writes ghost11 in the Ghost Trader2 blog.
For news about small stocks that made big moves in Tuesday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
Better-than-expected factory orders were key in boosting the market Tuesday, said Robert Pavlik, chief market strategist at Banyan Partners LLC during an interview with MarketWatch. “It was a combination of that and a market recovery from yesterday’s lows, and it’s pretty quiet today. So the path of least resistance is the market sort of higher,” Pavlik said.
Today In The Markets
TSX surges: investors look to central banks for help in sustaining recovery
|
| DJIA |
12,943.82 |
+72.43 |
 |
|
| NASDAQ |
2,976.08 |
+24.84 |
|
|
| S&P500 |
1,374.02 |
+8.51 |
|
|
| S&P/TSX |
11,848.75 |
+252.19 |
|
|
| S&P/TSX Venture |
1,225.49 |
+34.50 |
|
|
TORONTO-NEW YORK (The Canadian Press) - - The Toronto stock market surged to a two-month high amid hopes that central banks will take action to keep the fragile global economic recovery on track.
The S&P/TSX composite index jumped 252.19 points to 11,848.75, as traders also welcomed a strong reading on American factory orders.
The TSX Venture Exchange gained 34.5 points to 1,225.49.
The Dow Jones industrials closed up 72.43 points to 12,943.82, the Nasdaq composite index gained 24.85 points to 2,976.08 and the S&P 500 index was up 8.51 points to 1,374.02.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
ALEXIS MINERALS CORP. (TSX: T.AMC, Stock Forum)
ALEXIS MINERALS CORP. announced that it has changed its name to QMX Gold Corp. The shareholders of the Company (the "Shareholder") approved the name change at the recent Annual and Special Meeting of Shareholders held on June 13, 2012. In addition, shareholders approved the consolidation of the issued and outstanding common shares of the company on the basis of one new common share of the company for every 20 existing common shares of the Company. Effective July 5, 2012, the new common shares will begin trading on the Toronto Stock Exchange on a consolidated basis under the name "QMX Gold Corporation" with the new trading symbol "QMX". Changes to the OTCQX platform trading symbol for US markets will occur over the coming weeks.