U.S. Markets Sept 4-10, 2007

Stocks continued their roller coaster ride during the Sept. 4-10 trading session as worries about a possible recession and a number of gloomy economic reports exacerbated fears that the problems in the subprime mortgage market were infecting the broader economy. Anxiety peaked on Friday with news that U.S. employers cut 4,000 jobs in August. It was the first time in four years that monthly hiring contracted, the Labour Department said.

In a closely watched speech on Sept. 11, U.S. Federal Reserve Chairman Ben Bernanke attempted to reassure financial markets that the Fed “stands ready to take additional actions as needed to provide liquidity and promote the orderly functioning of markets.” But his comments — transmitted via satellite to an international monetary conference in Cape Town, South Africa — kept Wall Street guessing as to whether the Fed is planning to cut interest rates at its policy meeting scheduled for Sept. 18.

Bernanke said the situation was being closely monitored, noting that the slump in residential construction had “directly reduced the annual rate of U.S. economic growth about three quarters of a percentage point on average over the past year and a half.” He also said that if current conditions continue in the mortgage markets, “demand for homes could weaken further, with possible implications for the broader economy.” Despite the housing market’s drag on the economy, however, the central bank chief said the economy will expand “at a moderate pace.”

The Standard & Poor’s 500 Index finished the period down 37.72 points at 1,451.700. The Dow Jones Industrial Average fell 321.01 points to 13,127.850.

The most actively traded stock was Companhia Vale do Rio Doce with 68.9 million shares trading hands. For the second week in a row, the company’s stock rose over a dollar — closing at US$50.40 per share, an increase of US$1.07. Aluminum giant Alcoa took the no. 2 spot in terms of volume with 57.9 million shares traded, but its stock tumbled US$2.48 to close at US$34.05 per share.

Among the best performers in terms of percentage change were precious metals companies such as Seabridge Gold, which jumped 31% or US$7.27 to close at US$30.69.

U.S. greatest percentage change

VOLUME(000s) HIGH LOW CLOSE CHANGE
Patriot Gold* PGOL 85 0.12 0.085 0.12 + 41.1
Homeland Pr M* HPMEF 25 0.20 0.12 0.18 + 38.4
Seabridge Gld* SA 4445 31.20 23.00 30.69 + 31.0
Diamond Discv* DMDD 314 0.01 0.008 0.009 + 28.5
DRDGOLD* DROOY 1852 7.42 5.45 6.95 + 24.3
Silverado* SLGLF 20372 0.091 0.068 0.086 + 22.8
Apolo Gold* APLL 455 0.045 0.035 0.044 + 22.2
Northern Orio* NTO 12995 6.09 4.73 5.76 + 21.5
US Antimony* UAMY 80 0.65 0.47 0.57 + 21.2
Fischer-W Gld* FWGO 132 0.05 0.045 0.047 + 20.5
Brookmount Ex* BMXI 183 0.055 0.028 0.03 25.0
Campbell Res* CBLRF 1225 0.145 0.115 0.12 17.2
Metalline Mng* MMG 229 2.90 2.45 2.47 14.8
Trend Mng* TRDM 314 0.05 0.035 0.04 14.8
Idaho Gen Mn* GMO 1857 6.70 5.55 5.59 14.2
AmMex Gold* AMXG 500 0.32 0.25 0.27 12.9
Entree Gold* EGI 297 2.52 2.06 2.14 12.6
Commerce Grp* CGCO 128 0.13 0.105 0.105 12.5
Anooraq Res* ANO 4433 3.35 2.70 2.77 12.3
Ivanhoe Mines* IVN 5090 11.38 9.35 9.89 11.4

U.S. greatest value change

VOLUME CLOSE CHANGE
Rio Tinto* RTP 3491500 289.25 + 14.45
Seabridge Gld* SA 4444700 30.69 + 7.27
Randgold Res* GOLD 3981774 28.56 + 4.61
Barrick Gold* ABX 45807906 37.00 + 4.48
ASA (Bermuda)* ASA 404900 64.44 + 4.47
Agnico-Eagle* AEM 14630200 48.73 + 4.28
Silver Std Re* SSRI 5272404 33.39 + 4.18
Gold Mnrs ETF* GDX 10257778 40.94 + 3.29
StreetTr Gold* GLD 51287900 69.62 + 3.10
AngloGold Ash* AU 8536800 41.45 + 2.42
Soc Quim&M Ch* SQM 107700 151.25 8.14
Cleveland-Cli* CLF 5087800 71.97 4.30
Cabot Corp* CBT 2189800 37.39 2.95
Alcoa* AA 57964600 34.05 2.48
Teck Comin B* TCK 3198000 40.38 2.25
Yanzhou Coal* YZC 339400 86.44 1.82
OM Group* OMG 3134900 47.64 1.76
Ivanhoe Mines* IVN 5089800 9.89 1.28
Westmoreland* WLB 83000 19.51 1.18
Cameco Corp* CCJ 13450200 39.40 0.98

U.S. most active issues

VOLUME(000s) HIGH LOW CLOSE CHANGE
CVRD* RIO 68982 52.27 48.75 50.40 + 1.07
Alcoa* AA 57965 37.07 33.23 34.05 2.48
StreetTr Gold* GLD 51288 70.00 66.59 69.62 + 3.10
Newmont Mng* NEM 48131 44.79 41.93 43.83 + 1.67
Freeport McMo* FCX 47772 92.11 86.54 89.07 + 1.65
Barrick Gold* ABX 45808 37.34 32.52 37.00 + 4.48
Goldcorp* GG 41911 26.44 23.73 25.92 + 2.35
Coeur d Alene* CDE 36022 3.63 3.34 3.41 0.01
Golden Star* GSS 32323 3.69 3.07 3.45 + 0.36
Alcan* AL 30255 99.27 97.59 98.84 + 0.33
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