U.S. Markets -July 21-27

Despite mixed signals on the economy, the rally in U. S. stocks continued during the July 21-27 reporting period with the Dow Jones Industrial Average climbing 192.57 points or 2.16% to finish at 9,108.51 and the S&P 500 rising 27.6 points or 2.89% to close at 982.18. Buoying sentiment were better-than-expected housing numbers. Sales of new single-family homes increased 11% in June — the biggest monthly jump since 2000. Home prices remain on average about 17% below where they were a year ago, but the June data suggests prices could be starting to stabilize.

In terms of base metals, LME three-month prices are showing some signs of life but are still far below where they were a year ago: aluminum is currently at US84¢ per lb. (down from US$1.37 a year ago); copper at US$2.56 per lb. (versus US$3.63); lead at US82¢ per lb. (US$1.01); nickel at US$7.78 per lb. (US$8.50); tin at US$6.70 per lb. (US$10.21); and zinc at US78¢ per lb. (US87¢).

As for precious metals, the Amex Gold Bugs index inched up 1.92 points or 0.54% to close at 359.96, while the Philadelphia Gold & Silver index rose 0.74 points or 0.5% to finish at 148.9. Gold closed at US$953.30 per oz. at the end of the reporting period.

Alcoa was the most actively traded stock, inching up US70¢ to US$11.30. Growing optimism about China’s demand for cars, property and power infrastructure coupled with a weaker U. S. dollar is driving up the price of the metal, according to a July research note from Standard Chartered Bank. The LME three-month price of aluminum is up about 26% over its low of late May and the bank believes the current price of US$1,715 per tonne will rise to US$1,800 per tonne in the third quarter before settling at about US$1,550 per tonne in the fourth quarter. It forecasts prices will average US$1,825 per tonne for 2010.

Rio Tinto topped the charts with a gain of US$10.75 per share to close at US$162.46 -still basking in its solid quarterly production figures. Other majors enjoying significant gains were Potash Corp. of Saskatchewan, which rose US$3.71 to US$95.14 and Teck, which advanced US$2.37 to US$24.35. Teck posted net earnings in the second quarter of $570 million, up from $497 a year earlier.

U. S. most active issues
	VOLUME		WEEK
	(000s)	HIGH	LOW	CLOSE	CHANGE
Alcoa* AA	169519	11.44	9.91	11.30	+ 0.70
Freeport McMo*FCX	96203	60.73	56.00	59.95	+ 2.95
Teck B* TCK	63926	25.18	20.89	24.35	+ 2.37
Arch Coal* ACI	52552	18.57	15.73	18.16	+ 1.09
Alpha Nat Res* ANR	47334	34.80	28.93	32.44	+ 2.34
Peabody Enrgy* BTU	47180	34.69	31.46	34.28	-0.55
Potash C Sask* POT	46714	97.72	86.75	95.14	+ 3.71
Mosaic* MOS	37563	54.60	47.11	52.72	+ 3.60
Goldcorp* GG	33151	38.90	36.66	38.31	+ 0.31
Hecla Mining* HL	31900	3.24	2.92	3.16	-0.02

U. S. greatest percentage change
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Colombia Gldf*	CGDF	6869	0.18	0.07	0.14	+100.0
Golden Phoen*	GPXM	680	0.03	0.02	0.03	+ 50.0
Uranium Star*	URST	1704	0.22	0.14	0.18	+ 20.0
Mechel*	MTL	9097	11.39	8.81	11.33	+ 18.7
Contintl Mnls*	KMKCF	282	1.03	0.91	1.00	+ 17.6
Taseko Mines*	TGB	9334	2.09	1.70	2.07	+ 16.2
US Antimony*	UAMY	19	0.32	0.25	0.29	+ 16.0
Anooraq Res*	ANO	604	0.96	0.78	0.95	+ 15.8
PolyMet Mng*	PLM	680	1.40	1.21	1.38	+ 15.0
Radius Gold*	RDUFF	85	0.16	0.14	0.16	+ 14.2
China Shen Zh*	SHZ	106	1.81	1.41	1.41	-20.7
NWT Uranium*	NWURF	178	0.11	0.08	0.08	-20.0
America West*	AWSR	227	0.10	0.07	0.08	-20.0
Samex Mng*	SMXMF	107	0.17	0.11	0.12	-20.0
Dominion Mnls*	DMNM	48	0.20	0.06	0.09	-18.1
Dejour Enterp*	DEJ	107	0.28	0.24	0.24	-14.2
Linux Gold*	LNXGF	344	0.06	0.05	0.06	-14.2
Midway Gold*	MDW	102	0.74	0.64	0.65	-13.3
Minera Andes*	MNEAF	2142	0.79	0.62	0.68	-12.8
Canarc Res*	CRCUF	18	0.10	0.08	0.08	-11.1

U. S. greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Rio Tinto*	RTP	5390295	162.46	+ 10.75
Potash C Sask*	POT	46714135	95.14	+ 3.71
Mosaic*	MOS	37563022	52.72	+ 3.60
Agrium*	AGU	3094400	44.40	+ 3.39
Foundatn Coal*	FCL	25721456	34.34	+ 3.10
Freeport McMo*	FCX	96202792	59.95	+ 2.95
AlumCpChina*	ACH	1225000	29.69	+ 2.89
Intrepid Pots*	IPI	2322100	27.71	+ 2.87
BHP Billi-BHP*	BHP	23504740	61.83	+ 2.43
Teck B*	TCK	63926439	24.35	+ 2.37
Randgold Res*	GOLD	4646825	65.67	-1.07
Lihir Gold*	LIHR	783980	23.07	-1.02
AngloGold Ash*	AU	7844284	38.49	-0.97
DRDGOLD*	DROOY	760405	7.58	-0.76
Barrick Gold*	ABX	28187712	34.98	-0.61
Yamana Gold*	AUY	7690700	9.22	-0.60
Harry Winston*	HWD	423000	5.27	-0.58
North Am En P*	NOA	142600	5.41	-0.57
Newmont Mng*	NEM	24626977	41.58	-0.56
Peabody Enrgy*	BTU	47180089	34.28	-0.55