The Toronto stock market went up after Canadian SmartPhone maker BlackBerrys (NASDAQ:BBRY) stock jumped more than4% following an unconfirmed report that a Canadian investor was going to buy the SmartPhone company. Its shares were up 5.9% to 11.93 Canadian Dollars apiece. Metals and mining sector added 2.6% to lead gainers driven by data out of China. Teck Resources (NYSE:TCK)rose over 5% to 29.34 Canadian Dollars a share. Suncor Energy (NYSE:SU) )rose 0.3% to 36.79 Canadian Dollars per share. Financial sector gained 0.1%.
HOW THE MARKET REACTED: Stock indexes rose modestly, but enough to reach record highs. The S&P 500 index edged up 2.80 points, or 0.2 percent, to 1,709.67, an all-time closing high. The Dow rose 30.34 points, or 0.2 percent, to 15,658.36, also a record close. SEPTEMBER 6: WHAT HAPPENED: U.S. employers added 169,000 jobs in August, fewer than the solid 177,000 expected. Combined, June, July and August amounted to the weakest three-month stretch of job growth in a year.
Syria, Fed Speculation to Drive Stock Market
( STWD ) has priced a 25 million share offering of common stock to raise just over $600 million in gross proceeds. The company intends to use the net proceeds to originate and purchase additional commercial mortgage loans and other target assets and investments, and it included the “for other general corporate purposes” disclaimer in http://www.todayhotstocks.com the release. The $600 million compares to a market cap of about $4.04 billion, while the 25 million shares compares to an average daily volume of about 2 million shares. Apple: What Happens When Everyone Knows About a Product Release? Stratasys Ltd. ( SSYS ) is selling 4 million shares of its ordinary shares, representing close to $400 million in gross proceeds.
Companies Raising Over $3 Billion in New Stock Sales
If we read that right, traders are just fine with the level of risk they face even as they head deeper into a powder keg of a week. For what its worth, there does seem to be more room for good news than bad in the near term. Keeping Syria out of the crosshairs, which was looking more and more likely , coupled with an inspiring speech from the president later tonight could goose stocks. And unless Tim Cook completely delivers an iPhlop, Apple fans will have gotten another reason to buy more stock (plenty more on that below).
5 gut checks before the stock market’s opening bell
Some analysts think that the tepid jobs reporta sign that economic recovery isnt completely on solid footingcould delay Feds decision to decrease asset purchases. But most believe that the Fed will at least begin to reduce a portion of the $85 billion-per-month asset purchase. Regardless, any tapering of economic stimulus should be seen as a return to economic normalcy, not as a penalization of stock market investors. We believe it is important to grasp that less accommodative Fed policies typically signals stronger economic growth and by association better stock market prospects, wrote BMO Capital Markets in a Sept. 6 research note to clients. As such, stock market performance traditionally recovers quickly following associated rate hikes.