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